Dogecoin on weekly and hourly charts💥

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Hello, guys! ☺️Today let's take a look at two timeframes of Dogecoin: the weekly and hourly. We'll try to determine the price movement in the short-term, medium-term, and long-term perspectives!💪

🐕Dogecoin is a coin that evokes mixed emotions: some adore it, some hate it. Some have become very wealthy because of it (like Elon Musk, for example, haha😄), while others have lost a significant amount of their wealth (Hi, Elon🤨).

The most important thing is not to succumb to the hype and not to buy the coin, when it is clearly overbought.


Let's take a look at the weekly Dogecoin chart. What can we see there?

https://www.tradingview.com/x/muY9yzAN/

✔️Adding the RSI indicator to the chart, we can clearly see, that the coin is overbought, which is not the best signal for buying. It needs some rest. 😌

🟣 My advice: place several buy orders in the range of 0.097 - 0.139 and don't rush. Just observe. That's for the long term perspective!


Now, let's look at the hourly chart and see what awaits us in the short-term and medium-term perspectives for Dogecoin.

https://www.tradingview.com/x/F3onOtTt/

What do we see here? 🧐A channel has formed (since the end of February). And the price is confidently moving within this channel. It can be assumed, that in the near future, we may see the Doge price at the support of this channel at approximately the 0.16 mark.

Friends, how do you feel about Doge? Love it or hate it? Let's discuss in the comments!

Thanks for Your attention🫶
Always sincerely yours, Kateryna💙💛