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Dogecoin enters a zone of support; is it the right time to go long

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Dogecoin [DOGE] enters a zone of support; is it the right time to go long

Dogecoin has posted losses of nearly 43% from its local top on 1 November. More pain was likely to follow, although the intervention of a zone of support meant a bounce in prices could occur.Source: DOGE/USDT on TradingView

The carnage of the past two days, although severe, was not the beginning of the downtrend for DOGE. Rather, the beginning of the move down can be traced back to when $0.134 was flipped to resistance on 5 November.

 

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