Doge Market Analysis – 1H Chart Update
DOGE has successfully dipped into the micro support zone (17.00–17.77 cents) as expected. This zone is crucial for launching the 5th wave up in the ongoing diagonal pattern structure. So far, the move down appears corrective (3-wave structure), suggesting bullish continuation potential.
Wave Structure Analysis:
Wave 1, 2, and 3 seem complete with Wave 3 nearly touching the 138% Fibonacci extension (19.6¢).
If Wave 4 ended at support, we now look for Wave 5, ideally reaching:
161.8% Fib Extension at 20.6¢
178.8% Extension at 21.3¢
Key Levels:
Support Zone: 17.00¢ (must hold for the bullish structure)
Confirmation Breakout: Above 18.5¢ = likely 5th wave underway
Invalidation: A decisive break below 17.00¢ suggests Wave 4 is still developing.
Trade Setup:
Entry: 17.1–17.7¢ (micro support zone)
Target 1: 20.6¢
Target 2: 21.3¢
Stop-Loss: Below 16.8¢
Pullbacks remain healthy as long as higher lows are maintained. A breakout above 18.5¢ confirms continuation. Watch for potential weekend volatility near the weekly close.
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