$DOGE
Based on the DOGE/USDT and BTC/USDT charts, I will analyze the correlation and provide my assessment:
1. Current DOGE Analysis:
- Price is up +6.15% at $0.41026
- In a strong upward trend with high volume
- Technical indicators are all positive:
+ RSI(6) = 66.25: Strong momentum but not overbought yet
+ MACD is positive and diverging upwards
+ Stoch RSI = 73.16: In the positive zone
2. Correlation with BTC:
- BTC is in an accumulation phase after testing $99,500
- DOGE is showing a stronger upward trend than BTC (6.15% vs 0.35%)
- DOGE volume is increasing more than BTC
3. Scenario Forecast:
Positive Scenario:
- Short-term target: $0.42-0.425
- Near support: MA20 ($0.39936) and MA50 ($0.39017)
- Stop loss can be placed below MA20
Cautious Scenario:
- Important support zone: $0.38794 (MA99)
- If broken, it may test MA200 ($0.37862)
4. Trading Recommendations:
Short-term:
- Long when the price successfully tests MA20
- Take partial profits when approaching $0.42
- Stop loss below MA20 to preserve profits
Medium-term:
- Accumulate more if the price tests MA50
- Monitor BTC to assess the overall trend
- Pay attention to trading volume to confirm the sustainability of the trend
Note:
- DOGE is showing good upward momentum but requires tight risk management
- Set reasonable stop loss and take profit due to potential high volatility
- Combine news analysis and overall market sentiment