DOGE price analysis 24 May 2019; same pattern as always

DOGE price analysis 24 May 2019; same pattern as always

DOGE is one of the easiest cryptocurrencies to predict at this point, a fall is immediately followed up by a rise in the short term. When it comes to the long term it becomes even harder to diagnose the coin.

What we can tell for sure is that it is in a relatively better shape today, than it was on Wednesday when the bear rush swept over every currency on the market.

At the moment of writing, this article DOGE is being traded at $0.00295 but has a fluctuation gap between here and $0.00306, and by the time we’re done writing the article, it’s guaranteed to shift through them a number of times.

The good news is that some resistance levels have been formed for the next week, as well as major support levels. Let’s take a look.

DOGE price chart 24 may

DOGE chart by TradingView

Judging the fact that DOGE managed to spike nearly 17% within just a single month, it should be realistic that the climb is going to consider right? Well, yes and technically no.

The way that the market is shaping these 2 weeks has become quite predictable. Therefore it’s going to repeat the same pattern starting next Wednesday with a bear market. But there are still resistance and support levels to watch for DOGE.

At the moment, as long as DOGE reaches $0.0031 bulls can rest easy, knowing that no serious resistance is expected from the bear. However, once the price is passed, major attention needs to be directed until the next resistance at $0.0032.

If both levels are passed before Wednesday, then DOGE is expected to reach at least $0.0035 by the end of next week.

When it comes to supporting levels, the weekly pattern will not affect it too much. In fact, if the pattern repeats itself, it’s best to have DOGE as low as possible for the bulls.

Stocking up on DOGE is recommended if the coin reaches the $0.00284 and $0.00267 price points.

But when it comes to DOGE, long-term is not the best of ideas at this point. Better to capitalize on the odd fluctuation limbo in the short term.

DOGE price analysis 24 May 2019; same pattern as always
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