This analysis is based on the provided 4-hour chart of DOGE/USDT. By understanding the chart, traders can make better-informed decisions. Let’s break it down step by step.

$DOGE

Key Observations:

  1. Price Levels:

    • Current Price: $0.34212

    • 24-hour High: $0.34420

    • 24-hour Low: $0.33379

  2. Moving Averages (MA):

    • MA(7): $0.33967 (Yellow)

    • MA(25): $0.32548 (Pink)

    • MA(99): $0.32669 (Purple)

    • The price is currently above all three moving averages, signaling a potential bullish trend in the short term.

  3. Volume:

    • Current Volume: 106.4M

    • The volume is stable, indicating consistent trading activity but not a major breakout.

  4. Trend Indicators:

    • Higher Lows: Since the drop to $0.26216, the price has gradually moved upwards, forming a series of higher lows. This is a bullish sign.

    • Moving Average Crossovers:

      • MA(7) has crossed above MA(25), which suggests upward momentum.

      • Price is approaching the MA(99), and breaking above this level could confirm a stronger bullish trend.

Analyzing Trend Direction

  • Upward Indicators:

    • The short-term moving averages (MA7 and MA25) are sloping upward.

    • The price has broken through key resistances and is now testing MA99.

    • A breakout above $0.34420 (recent high) could push the price higher.

  • Downward Risk:

    • If the price fails to sustain above MA(99), it might pull back to retest $0.325 (support near MA25).

    • Reduced volume or rejection at current resistance levels could indicate weakness.

Predicted Trend for the Next 4 Hours

  • Based on the chart analysis:

    • Trend Prediction: Likely bullish. The upward momentum is supported by moving average alignment and higher lows.

    • Price could test $0.350–$0.355 if it breaks the current resistance.

Trading Strategy

  1. Bullish Scenario (Buy):

    • Entry: If price breaks above $0.34420 with strong volume.

    • Take Profit: $0.350–$0.355.

    • Stop Loss: $0.337 (below recent lows).

  2. Bearish Scenario (Sell/Short):

    • Entry: If the price falls below MA(25) at $0.325 with strong selling volume.

    • Take Profit: $0.310–$0.315.

    • Stop Loss: $0.333 (above recent highs).

Should Readers Follow This Analysis?

This analysis is based on technical indicators and trends visible on the chart. Readers are encouraged to:

  1. Verify market conditions before trading.

  2. Combine this guide with their research and risk tolerance.

  3. Start with a small position and use stop-loss orders to manage risk.

Note: While the trend looks bullish in the short term, market conditions can change rapidly. Always trade responsibly.

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