$DOGE

DOGE is expected to break through $0.50? The trend may start at any time! 🚀

Brothers, DOGE has not been simple recently! Although there has been a slight pullback recently, from technical graphics to on-chain data, it is hinting that this stock may break through at any time. Today, let's take a closer look to see whether it is a "fake fall" or "accumulation before the big move".

Trend review: narrow consolidation, direction to be determined

Since the surge in early November, DOGE has been consolidating between $0.35 and $0.48 for four weeks.

In the latest wave of pullbacks, the price fell below the rising trend line, seemingly turning bearish, but... is it really like this?

The rise may happen at any time!

The RSI strong overbought signal has been reset

Dogecoin's RSI has fallen back to around 50, which is very similar to the starting point of the strong upward trend in March 2024.

The RSI overbought and then fell back, often indicating that the short-term adjustment is complete, and a new round of rise may start at any time.

Short-term strategy: focus on support and liquidity recovery

In the short term, Dogecoin may drop to between $0.32 and $0.34, test support and collect liquidity. This action may be to accumulate power for the next round of highs.

If RSI remains strong when testing the 50-day moving average, it may start bullish mode.

Long-term goal: hit $0.50 and above

Breaking through $0.50 is the key. After successfully standing firm, the next target is the $0.5 to $0.59 range.

If it breaks through with large volume, it may go straight to $0.6598 or even higher, recreating the grand occasion of skyrocketing.

Finally, a reminder: Although the market of Dogecoin is attractive, the risks are also real, especially when the current market is waiting for a clearer direction. Keep a steady mind and wait patiently for opportunities in liquidity positions. If you are ready, then look for support, set a stop loss, and grab your profits! 🤑