The chart displays the $DOGE /USDT pair on a 30-minute timeframe on Binance. The price is currently trading at $0.34265, showing a bullish momentum with an 8.81% increase in the last 24 hours.
Analysis:
1. Trend: The price is in an uptrend, with higher highs and higher lows visible on the chart.
2. Resistance and Support: The nearest resistance is around $0.345, and support is at $0.335.
3. Volume: The 24-hour volume suggests strong market activity, indicating sustained interest in the asset.
Trade Plan:
Long Entry: If the price breaks and sustains above $0.345, enter a long position.
Target: $0.355 (next resistance level).
Stop Loss: $0.340 to limit risk.
Short Entry: If the price gets rejected at $0.345 and starts falling below $0.335, enter a short position.
Target: $0.325 (previous low).
Stop Loss: $0.340 to avoid potential losses from a reversal.
Monitor the price action closely near key levels and confirm entry with volume support or candlestick patterns. Always manage risk with appropriate position sizing.
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