Dogelon Mars (ELON) isn’t just another meme coin. This ERC-20token is actually a universal cryptocurrency that its crypto team displays.
The ELON token continues to grow rapidly, and it has experienced a tremendous growth spurt of 6.15% over the past 24 hours.
The current price for the ELON meme coin is $0.0000003618. Investors have been trying to pinpoint the Dogelon Mars’ (ELON) price at lower levels. It forms a symmetrical triangular pattern on the price charts.
At press time it appears that the continuation pattern is in place. This could lead to a potential breach on the upside.
Dogelon Mars, (ELON), follows the lead of Ethereum and Bitcoin. The new meme coin has soared to 62%.
What’s The Dogelon Mars (ELON) Project?
According to ELON, the project has this mission or dream of reversing damage caused by scams and crypto fraud. Evidently, the Dogelon Mars ELON community donates ELON to victims of scams.
Dogelon Mars is a fictional character from the comic NFT. It is a meme coin with a dog theme that was created on Ethereum Blockchain. The cryptocurrency scene introduced it on April 23 2021. However, it gained popularity during its bull run of November 2021. Also, the crypto team discussed plans for growing the ELON project.
The technical analysis shows that the ELON meme coin glided with a symmetrical triangular pattern for more than 62 days. The tension is bouncing between the resistance and support trendlines makes this a fascinating observation. In essence, bulls and bears fight each other to determine where the price will jump next.
Is ELON going to make it or break it?
If the bulls maintain positive momentum, then there will be a breach which could lead to a 78.6% price rise for ELON. For this bullish view, the target is $0.0000006448.
In contrast, traders should anticipate that they’re bound to face enormous resistance to the ELON meme coin at the $0.000000502 zone which is mainly due to the swing-low depicted from January 22 of this year which has switched into resistance.
A hammer candle, which is bullish and coined as symmetrical, was also seen in the weekly chart.
Most times, you can spot the Hammer Candle at the beginning of a downtrend. However, strong buying momentum has seen the ELON meme coin price soar.
If Dogelon Mars (ELON), coins reaches the resistance level, then the price explosion will continue. The influx of macro-economic variables that are hindering the bull run could make it a difficult decision.
Source: TradingView.com| Source: TradingView.com Featured image by Watcher Guru. Chart from TradingView.com