DOGE/USDT Technical Analysis
Current Price: $0.34787
Timeframe: Daily (1D)
Indicators:
Moving Averages (MA):MA(7): $0.36852MA(25): $0.34483MA(99): $0.28408
Technical Indicators:
Moving Average Convergence Divergence (MACD):
The MACD is currently showing a negative value with a slight downward trend. The histogram suggests a potential bearish momentum, indicating selling pressure. However, the crossover lines are relatively close, hinting that a reversal could occur if buying interest increases.
Relative Strength Index (RSI):
The RSI(24) is at 50.13, which is considered a neutral level. A value near 50 suggests indecisiveness, with neither bulls nor bears dominating the market.RSI(6) and RSI(12) are slightly lower at 44.98 and 47.75, respectively, leaning toward a mild bearish signal.
Price Action:
DOGE’s recent candlestick pattern shows a small body with long wicks, indicating market indecision and higher volatility. The price is currently below the 7-day moving average (MA7), reflecting short-term downward momentum. However, it remains close to the 25-day MA (MA25), a possible support level.
Support and Resistance Levels:
Support: $0.344 and $0.300 (major psychological level).Resistance: $0.368 and $0.400.
Short-Term Trading StrategyBearish Scenario
If DOGE fails to break above $0.368, short-term traders can:Open a short position targeting a decline to
$0.344 (first support).
Second Support ($0.300):
Stop-Loss: Place at $0.368 to limit risk.
Bullish Reversal If DOGE breaks and closes above $0.368 with increased volume:
Open a long position with a target near the $0.400 resistance.
Stop-Loss: Below $0.344 to manage potential downside.
this is just my personal analysis, before invest please DYOR