DOGEUSDT BULL OR BEAR TRAP UPDATE
2024-11-05



Good evening, dear memecoin degens! How’s your Monday going?

Today we’re looking at DOGE, the biggest and oldest memecoin. On the daily chart, things look mixed. On one hand, the price is above the 200MA, and volume looks solid, which is bullish. However, for stronger confirmation, I’d like to see the price flip that 78.60 FIB level into support.

At the moment, we had a false breakout above the 78.60 FIB level, and it's now acting as resistance. If this resistance holds and the price is pushed lower, I expect it could fall to at least the 200MA.

Let’s see how today’s close shapes up; we’ll have a clearer picture of where things might be headed.

Thanks for reading! Feel free to comment or ask any questions. Stay safe!

