Crypto News: (DOGE) Dogecoin Soars After (TWTR) Twitter Stock News, But Can It Continue?

Doge made a solid run higher yesterday after the Twitter board accepted Elon Musk’s buy out deal. The deal is reported at $54.20 per share, which is valued at around $44 billion USD.

We can see the break of the downtrend on the 16^th of March...

Doge buyers jumped back into the crypto, adding just over 29% to yesterday’s high. This bar maintains the new uptrend that we’re watching after a new higher low was also formed. We can see the break of the downtrend on the 16^th of March.

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With this week’s surge and HL we will continue to look at a trend continuation pattern, but the stopping point remains at 0.17 cents. This level has been and continues to be a critical level of resistance. The last time buyers made a close above this level was back in January. For the trend to continue, we need to see buyers break this resistance to show that we really do have an uptrend underway.

If this level can’t be beaten, we will be looking for the range to continue unless we see a new move back down to 0.1312 support.

Dogecoin D1 Chart

The post Crypto News: DOGE soars after Twitter news, but can it continue? appeared first on Eightcap.

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Joseph Jeffriess, Market Analyst in Eightcap
Eightcap is one of the leading CFD brokers in the market, providing online trading services to a wide range of clients from around the world. They offer 1,000+ CFDs based on Forex, commodities, indices, shares, and cryptocurrencies. The well-established trading company was founded in Melbourne, Australia, in 2009, and is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of The Bahamas (SCB).