DOGE → Breaking Resistance to $0.10? $0.15?? Let’s Clarify.

Dogecoin is knocking on the door of the Resistance Zone looking to hit the next price targets. We're currently in an ascending triangle which is bullish, will Doge break out?


How do we trade this?🤔

DOGE → Breaking Resistance to $0.10? $0.15?? Let's Clarify.


There are several reasons to be bullish; Bullish Macro Trend, Ascending Triangle pattern, Above 30EMA and 200EMA Ribbons, RSI above the Moving Average, and Bitcoin broke out of its Weekly Resistance. That's quite the list of reasons to get long! But should we long now?

There is one important reason we shouldn't long; we're at resistance. Never long resistance! We should wait for resistance to be broken and then tested as support before entering a long position. Once broken and support has been tested, long around the $0.89 area and set a 1:3 Risk/Reward. I recommend selling half of your position at 1:1 Risk/Reward, moving the stop loss up to your entry price, then swinging the rest of the position to at least 1:3 Risk Reward or until you see a reversal signal.

The immediate target after breaking resistance is $0.10 but if the market takes off, we could see highs up to the next major resistance around $0.15.


💡 Trade Idea 💡

Long Entry: $0.888
🟥 Stop Loss: $0.8620
✅ Take Profit #1: $0.9140
✅ Take Profit #2: $0.9666
⚖️ Risk/Reward Ratio: 1:3


🔑 Key Takeaways 🔑

1. Ascending Triangle, Bias to Long.
2. Two Rejections, Third one is underway.
3. Wait for a Break of Resistance and a Test of Support Before Longing.
4. RSI at 63.00 and below Moving Average, Short-Term Bullish.
5. Long Above Resistance, Stop Loss Below Resistance Zone.


⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!


Find me at


Like 👍 and comment if you found this analysis useful!