This Is The Best Altcoin To Invest This Summer!

Altcoin: Crypto analyst Tony M says Dogecoin is the best altcoin to invest in this summer. Because, according to the analyst, it is possible for Dogecoin to outperform in the next few months. On the other hand, the analyst notes that the macro thesis will be invalid on a break of $0.00560. We have prepared Tony M’s DOGE analysis for our readers.

Titles

“Altcoin price promising”

Dogecoin price is very positive to start the third week of the June trading session. The infamous meme token saw a retest of the breached Elliot wave trend channel on June 10 at $0.05. The meeting was followed by a notable sideways price action within the region. On Tuesday, June 21, bulls spiked above the consolidation zone, which is likely to be an entry for risk-averse traders.

From a macro perspective, I see Dogecoin price at the rate of reaching $1.00. Meanwhile, the volume model has decreased. The difference in the Relative Strength Index is clear. Also, the trend channel has been breached. Some Elliot Wave practitioners will say that wave 5 price action often repeats wave 1 price action in time, momentum, or both. If that idea is applied to the DOGE price, it’s possible that the notorious dog coin could take a peek at $1.00 by October of this year.

DOGE 4-day chart

“Macro state override depends on it”

However, anyone reading this thesis should keep in mind that it is possible for the DOGE token to drop to lower targets without overriding the macro state. It is especially important that they are doubly aware that it may drop to the $0.02 price level. It is necessary to keep this dual scenario in mind. Investors also need to lower the cost basis in case of further declines. For this, they should allow DOGE’s average dollar cost approach.

Overriding the entire macro state is dependent on the $0.00560 breach. If this wave had touched the 1 price level, the entire move would be invalid. Dogecoin would have sunk to $0.001 or lower, down over 100% from its current price.

At press time, Dogecoin (DOGE) was trading at $0.6171, down 5.68% on a daily basis, according to CoinMarketCap. Altcoin continues to maintain its 10th position in terms of market capitalization. AmkNews.comAs you follow, the developments regarding Elon Musk’s acquisition of Twitter gave DOGE a short rally opportunity. However, the meme coin failed to sustain this. DOGE hit an all-time high of $0.7376 about a year ago. However, he has since regressed, although he has made occasional attacks. Currently, the altcoin stands at 91.64% off the ATH level.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.