Analyzing the provided $DOGE /USDT 4-hour chart, here’s a detailed professional overview:
1. Current Price Action: $DOGE is trading at $0.41535, showing a slight recovery of +0.37%. The price is consolidating near the middle Bollinger Band (MB), which is acting as immediate resistance at $0.42521.
2. Indicators:
Bollinger Bands: The price is between the lower band ($0.40990) and the upper band ($0.44053), indicating consolidation.
MACD: Shows a bearish crossover (MACD: -0.00232, DIF < DEA), signaling downward momentum.
Volume: Decreasing, suggesting weakening buying pressure.
3. Potential Long Entry: If the price breaks above $0.42521 with strong volume, it may rally towards the upper Bollinger Band target of $0.44050. Stop loss can be placed below $0.40900 for risk management.
4. Potential Short Entry: If the price breaks below $0.40900, a short position targeting $0.39620 (previous support) is viable. Stop loss should be set above $0.42500.
5. Recommendation: Wait for a breakout confirmation above $0.42521 (long) or below $0.40900 (short) before taking a position. This reduces the risk of entering during consolidation.
0.40471
-4.4%
Keep monitoring MACD for momentum shifts and volume for breakout strength.
#Share1BNBDaily #MicrosoftBTCInvestmentVote #ETHOnTheRise #BinanceBNSOLPYTH #BitwiseFiles10ETFs
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
24.6k
Views
10
Likes
1
Quotes
3
Shares
4 Replies
Most Relevant
Most Recent
Rick1965
