Chart analysis $DOGE frame 4H

1. Recent price trend

DOGE had a strong increase in November, peaking at around 0.45 USDT. Currently, the price is adjusting to the range of 0.39 - 0.40 USDT and showing signs of accumulation.

2. Important support and resistance

Key support: 0.385 - 0.39 USDT. This is the price range where DOGE is reacting and maintaining buying pressure.

Short-term resistance: 0.40 - 0.42 USDT. This is the price area that needs to be surpassed to regain upward momentum.

Strong resistance: 0.45 USDT (previous peak in November).

3. RSI indicator

The RSI indicator is currently at 42.80, indicating that the market is in a neutral state but trending towards the oversold area. If the RSI moves above 50, buying pressure may increase and push the price back to an upward trend.

4. Technical analysis

DOGE is currently in an accumulation phase after a strong correction from the peak of 0.45 USDT. If the price can maintain above the support area of 0.39 USDT, there is a possibility that DOGE could bounce back and retest the resistance area of 0.42 - 0.45 USDT. Conversely, if the price breaks below 0.385 USDT, the downward trend may continue to the next support level at 0.35 USDT.

5. Reference strategy

Buy: Around the range of 0.385 - 0.39 USDT if there are strong support signals.

Take profit: At 0.42 USDT and the strong resistance area of 0.45 USDT.

Stop loss: If the price drops below 0.385 USDT.

💥Conclusion

DOGE is at a critical stage with strong support around 0.39 USDT. This is a good opportunity to observe and wait for bullish signals before deciding to trade.