Tuesday, March 5, 2024
HomeBusinessEven Elon Musk can't save Dogecoin from crashing another 60%, analyst asserts...

Even Elon Musk can’t save Dogecoin from crashing another 60%, analyst asserts By Cointelegraph

Date:

Related stories

What Is Predictive Analysis And Its Role In A Winning Marketing Strategy

If you’re in marketing, there’s a good chance you’ve...

Understanding the Duration of Botox

Botox is widely diagnosed in medical and beauty circles...

How to get free leads for my business

It doesn't matter whether you are a scaling startup...

The Business Of Living Longer: Longevity Supplements On The Rise

Humans have always sought ways to extend their lease...


Even Elon Musk can’t save Dogecoin from crashing another 60%, analyst asserts

If one looks at Dogecoin (DOGE) charts from the point of view of a financial chartist, he/she will notice an alarming presence of a classic bearish structure.

For instance, pseudonymous analyst Tyler Durden highlighted what appears to be a “Head and Shoulder” pattern. The trading structure forms when an asset forms three peaks atop the same support level. In doing so, its middle peak comes out to be higher than the other two.

Dogecoin crash anticipated if its breaks below $0.299-support. Source: Tyler Durden, TradingView.com
D weekly chart shows the next support confluence in the $0.040-0.047 area. Source: TradingView.com