Chart analysis:
1. Bullish ZigZag Pattern:
It is clear that the price went through a corrective downward wave followed by a significant rise.
During October 18, there was a strong uptrend with a clear increase in trading volume, reflecting greater interest from traders.
2. Formation of a new summit:
The recent peak at 0.0035241 indicates that the price is trying to test new resistance levels, and if this momentum is maintained, this resistance may be broken.
3. Current stability:
The price at 0.0033499 is fluctuating in a horizontal range after the uptrend, which is a positive sign as it shows consolidation before another attempt to rise.
4. Trading volume:
Increasing trading volume with the rise is a positive sign indicating the entry of new investors, which enhances the chances of the upward trend continuing.
Future forecast:
Positive scenario: If the price manages to break the resistance at 0.0035241 with support from high trading volume, we may see further upside to 0.0036000 levels and possibly higher.
Key Support: In case of any pullback, the 0.0032000 area will act as a good support that could encourage buying back.
Investment advice:
Based on this analysis, the currency appears to have a strong upward momentum. If you are looking to invest, buying at these levels or any minor correction would be a smart decision. Following the trading volumes and breaking the resistances will be the keys to making a good profit.
plan:
Gradual entry into investment during corrections.
Exit at the next resistance if you notice a weakening in momentum or an increase in selling volume.
Conclusion:
1MBABYDOGE price is showing strong bullish signals, making it an encouraging investment opportunity. Follow my upcoming measurements to get continuous updates on this coin and find out the ideal entry points to maximize your profits!
