After breaking out of $0.27 Doge is poised to go to the next level at $0.49. Expecting a pullback to get in, but market may not provide a lot of time to think about it. At this point 2 counts are at play and both bullish.
Blue count: tracking an ending diagonal pattern. The two 5 waves moves; one from Oct 2023 low and one from Aug 2024 low could be a zigzag. Now we need to see how the wave 3 forms. If we see another 3 waves move that stalls between fib 1 to 1.236 extension ($1.2 - $ 1.7), and price falls below $0.49, then ending diagonal is most likely.
Black count: Instead of a zigzag, this count assumes we have a 1/2, 1/2 and primed for a 3 of 3 move. In this case, we should still expect a resistance at $1.2 but price should not break below $0.49. and the way the waves form would be a lot more impulsive.
Crypto market has a lot of tailwinds at the moment and might decouple from the overall markets. As rotation begins, on top of pent-up institutional demand, things might go crazy. Doge has a good use case with backing from Musk and his platforms.
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