DOGE COIN SWING LONG IDEA - MEMECOIN
2024-11-07

DOGE is the leading coin in the meme sector of crypto and occasionally receives direct support from Elon Musk. With Musk potentially in office alongside President Trump, this coin could see significant upward momentum.

Technical Analysis: The price recently broke the bearish trendline that’s been in place since the end of October. During this breakout, we also established a strong daily demand zone. Today, there’s been a notable upside movement following news about Elon Musk's involvement with Trump.

I anticipate a retracement to the daily and 4-hour demand zones, which are aligned with the Fibonacci optimal trade entry area. I’ll look for lower time frame confirmations to enter the trade.

Target: $0.23
Stop Loss: $0.14