The Trust Layer for Market Analysts

The analysis indicates Dogecoin continues to hold below resistance lines and is printing lower lows and lower highs since topping locally on October 13. The pressure continues to be downward. The move down appears corrective, not impulsive, leaving a chance for an upside reversal. However, without a five-wave move up and a break above resistance, there is no evidence of a meaningful low. The analysis treats this as a wave 2 correction in the orange scenario. Wave 2 may have bottomed already, given a complete-looking three-wave move down into the low of November 4, but without an impulsive upside reaction, the analyst is skeptical about the yellow scenario. The analyst suggest the orange scenario appears to be leading the market.