Dogecoin Dey Test $0.19–$0.21 Again, Better Risk-Reward Outlook
Dogecoin (DOGE) don fall back reach im weekly bull market support band wey dey around $0.19–$0.21 after two-week rally wey push price reach upper $0.20s. The weekly candle close at $0.19945, down about 17% for the week but still dey above the critical area. Technical analysis wey trader Cantonese Cat do show say for July 16, dem break descending bear trendline and come test back both the trendline and support band. This junction show tight risk boundaries when compare to potential upside, e dey give traders better risk-reward entry. People wey dey follow momentum and trend go watch make the price stabilize, reduce downside momentum, or recover pass the band middle line to confirm the breakout. If demand hold for that level, Dogecoin fit continue im bullish move. But if support no hold, e fit cause more falls.
Bullish
Dogecoin dem don pull back go di weekly bull market support band and dem dey test long-term trend wey dey go down again, na classic technical setup wey pipo dey see as bullish. Similar pattern dem for assets like Ethereum, after dem test trendline breakout well, dem see strong rebound. Di combination of support plus broken resistance trendline dey make risk smaller for traders, e dey show say di risk-reward profile dey good. For short term, if e stabilize around $0.19–$0.21, e fit make am bounce go di higher $0.20 range. For long term, if e hold this zone well, e fit mean say di big bull trend wey start around mid-July go continue. But if e no fit hold, e fit cause deep correction. Still, di weekly close above important levels dey support di bullish view.