Down to 0.20?

Technical Analysis for $DOGE /USDT:


Current Price: $0.36167 (down 5.06%)

Key Support & Resistance Levels:

Support Level 1: $0.34036 (24h Low)

Support Level 2: $0.34960 (SAR Indicator)

Resistance Level 1: $0.39032 (24h High)

Resistance Level 2: $0.39500 (Potential Resistance Area)

Resistance Level 3: $0.40000 (Psychological Resistance)

Trade Momentum:

Momentum: Bearish (Currently showing a decrease of 5.06% in the last 24 hours, indicating a downward movement in the short term).

Moving Average Convergence Divergence (MACD): Check if the MACD is showing a bearish crossover, signaling further downward pressure.

RSI (Relative Strength Index): Monitor RSI values to determine if the asset is oversold (below 30), which may suggest a potential reversal.

Trade Signal:

Entry Point: Consider entering around $0.34960 (SAR indicator support level), as this is a potential reversal zone.

Target Levels:

1. Target 1: $0.36000 (First short-term resistance)

2. Target 2: $0.38000 (Next major resistance area)

3. Target 3: $0.39500 (Further upward potential near 24h high)

Stop Loss: $0.34000 (Support level)

Trade Strategy:

Bearish Short-Term View: Given the recent price drop, traders should consider entering near the support zone at $0.34960 and watch for potential bounce toward the target levels.

Watch for Momentum Shift: If DOGE approaches $0.39500, observe volume and market sentiment for possible signs of continuation or reversal.

Caution: If the price breaks below $0.34000, this may signal further downside, so a stop-loss near $0.34000 is recommended to manage risk.

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