Based on the 1MBABYDOGE/USDT (1D) asset chart, the following conclusions can be made: $1MBABYDOGE
Bollinger Bands (BB):
The asset price is closer to the upper boundary of the Bollinger Bands, indicating a strong upward movement. A breakout above the upper boundary may signal a continuation of the upward trend, but may also be a signal of a possible correction due to overbought conditions.
Ichimoku indicator:
The price is above the Ichimoku cloud, indicating a clear bullish trend.
Lagging Span is also above the price, confirming the upward momentum.
The cloud ahead (Kumo) also supports the upside as it remains green.
Parabolic SAR:
The SAR dots are located below the candles, which confirms the upward movement. This indicates that the trend remains upward at the moment.
Moving Averages (MA):
MA(7), MA(25), and MA(99) are located below the current price, which confirms the dominance of the bullish trend.
MA(7) and MA(25) are in an upward direction, indicating growth support.
Graphic figure:
You can see a "double bottom" figure, which is a bullish pattern. After breaking the resistance line (highlighted in purple), the price confirmed further upward movement.
Target level:
After breaking the resistance zone (around 0.00235), the price may reach the target level, which is measured as 54.52% growth, to the level of around 0.0035046.
Volumes:
Trading volume has increased significantly, confirming the interest of market participants and supporting the upward movement.
Conclusion:
The asset shows strong bullish signals with potential for further growth. A breakout of the resistance level opens up the possibility for further price increase to the target level of 0.0035046. However, it is worth monitoring the possibility of a short-term correction, especially if the price overheats after a strong upward move.
