$DOGE Updated Trading Strategy for DOGE/USDT

Market Overview

Current Price: $0.4065 (+6.97%)

Resistance Levels:

Immediate: $0.412

Stronger: $0.430

Support Levels:

Nearest: $0.395

Key Support: $0.375

Indicator Highlights

RSI (Relative Strength Index):

Current: 67 (approaching overbought, indicating potential profit-taking).

ADX (Average Directional Index):

Current: 19.5 (shows weak momentum, possible consolidation before a move).

Volume:

Moderate at 53.9M, supporting the current trend.

Trading Strategy

1. Short-Term (Intraday or 1-2 Days):

Entry: Buy near $0.395 if support holds.

Targets:

First target: $0.412

Next target: $0.430

Stop-Loss: Set at $0.390 to minimize risks.

2. Mid-Term (1-4 Weeks):

Entry: On breakout above $0.412, look for sustained volume.

Targets:

Initial target: $0.430

Extended target: $0.450

Stop-Loss: Below $0.395 to protect gains.

Action Plan

Monitor RSI: Overbought levels above 70 could signal a reversal.

Volume Confirmation: Look for rising volume to support breakouts.

Set Alerts: At $0.412 (resistance) and $0.395 (support) for key moves.

Stay disciplined and stick to the stop-loss to manage risks effectively.