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Short-term forecast: The short-term time frame shows that the price $DOGE is within the triangle, which usually indicates consolidation and readiness for a breakout. Given the current liquidation levels, a short-term rebound is likely with a possible test of the resistance level around $0.13. However, if the price breaks the lower border of the triangle, it may fall to the levels of $0.12 and below.
Medium-Term Outlook: In the medium term, DOGE is showing signs of forming a bullish structure with a possible upward move towards the $0.17 and $0.20 levels if current resistance levels are broken and held. However, to do this, it is important to monitor volumes and price behavior relative to the EMA and Ichimoku Cloud.
▶️ Support and resistance levels
Support Levels:
$0.1087
$0.0807
$0.0504
Resistance levels:
$0.1334
$0.1796
$0.2110
▶️ Entry, exit, stop loss points for long positions
Entry point: 🟢 Long is possible when the price breaks out and consolidates above the $0.13 level with confirmation on volume.
Exit point: At the levels $0.17 - $0.21.
Stop loss: Below the $0.125 level or when the lower border of the triangle is broken.
▶️ Entry, exit, stop loss points for short positions
Entry point: 🛑 A short is possible when the lower boundary of the triangle is broken around $0.12.
Exit point: At the levels of $0.108 and $0.080.
Stop loss: Above the level of $0.1334.
▶️ Long and short scenarios with probability assessment
🟢 Long script:
Probability: 60%
Reasons: Holding the $0.12 level and breaking above $0.13 with volume confirmation could lead to a strong bullish move. Also, liquidation levels show a large number of short positions at the levels of $0.12 - $0.13.
🛑 Short scenario:
Probability: 40%
Reasons: A bearish scenario is possible if the lower border of the triangle is broken, especially if the support level of $0.12 does not hold. The volume and structure of the volumetric profile can support downward movement.
▶️ Technical indicators (impact on price)
LiquidationHeatMap: LiquidationHeatMap: LiquidationHeatMap indicates possible pressure on short-term positions. High levels of liquidations are observed in the range of $0.12 - $0.13.
Volume: Increasing volumes at current levels can confirm the direction of the breakout.
Anchored Volume Profile: Showed significant interest at the $0.13 and $0.12 levels, indicating key points for price action.
Ichimoku Cloud: The Ichimoku Cloud indicates resistance above $0.13, which could hamper an upward move.
Parabolic SAR: Supports upward movement.
EMA: Prices are above the EMA, which also supports a possible upward movement.
YK Round Levels: Indicates the key levels of $0.13 and $0.14.
RSI: Indicates positive dynamics but is close to the neutral zone, suggesting possible consolidation ahead of a move.
