Technical Analysis and Today's Forecast

1. Candlestick and Moving Average System Analysis

  • 4-Hour Candlestick Chart: DOGE has shown a clear upward trend recently and has broken through multiple moving average resistance levels. The 7-day moving average (MA7) is strongly rising, currently forming short-term support at 0.38868. Overall, the short-term trend remains bullish, but after approaching the previous high of 0.39864, the momentum has weakened.

  • 1-Hour Candlestick Chart: There are clear signs of high-level consolidation, with bullish momentum weakening. At the same time, the distance between MA7 and MA30 is narrowing, indicating a potential short-term pullback risk.

2. Review of Yesterday's Trend

Yesterday, DOGE started to rise from around 0.365, peaking at 0.39864, which corresponds to the characteristics of oscillating upward after a breakout, but it failed to effectively break through the psychological barrier of 0.400. This position has heavy resistance. Today, the short term may focus on a high-level pullback correction, and caution is needed for the risk of false breakouts falling back to the support area.

3. Technical Indicator Analysis

  • MACD (4 Hours): The DIF line and DEA line have formed a golden cross, but the red bars are shrinking, indicating that the upward momentum is gradually weakening.

  • RSI (1 Hour): Has entered the overbought zone, with a value around 70, indicating a short-term need for a pullback.

  • Bollinger Bands (1 Hour): DOGE is currently at the upper band area of the Bollinger Bands, and the price is likely to approach the middle band (around 0.385) for correction.

Operation Suggestions (Short-term Strategy)

Based on the current trend, it is recommended to mainly engage in high selling and low buying in the short term, combined with support and resistance levels for planning.

Direction: Long

Entry Position: 0.38500-0.38700

First Target: 0.39800

Second Target: 0.40500

Stop-loss Level: 0.38000

Today's DOGE trend is expected to primarily oscillate at high levels, likely fluctuating in the range of 0.385-0.398. Short-term operations should favor a strategy of selling high and buying low within this range. If it breaks through 0.400 with volume, it may reach 0.405, but the overall space is limited, so investors are advised to control their positions and strictly implement stop-losses.

Understanding market rhythm is the beginning of controlling wealth! Follow Lao Tan closely, plan ahead, and let the next peak belong to your account! Pay attention to Lao Tan, and never let opportunities slip away!
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