$DOGE

DOGE Price Analysis

Brothers, recently DOGE has firmly held the support level at $0.30, but the bulls are having a tough time breaking through the 20-day moving average ($0.34). The current situation is like a tug of war, and a winner could emerge at any moment!

Bearish Control: Breaking Support, Aiming Lower

If the support at $0.30 is breached, the bears are likely to seize the opportunity to push the price towards the following targets:

$0.26193 (61.8% Fibonacci retracement level).

$0.22791 (stronger support level).

Currently, there is heavy selling pressure from the bears, so be careful not to be misled by false rebounds.

Bullish Counterattack: Breaking the Moving Average, Turning the Tide

Once the bulls successfully push the price above the 20-day moving average, the short-term bearish force will weaken. A rebound may follow:

Rebound Target 1: $0.38 (50-day moving average).

Rebound Target 2: Higher resistance point, let’s see if the bulls can sustain the breakthrough!

However, it’s important to note that selling pressure around $0.38 will be quite strong and could become significant short-term resistance.

Strategy Suggestion: Seek Victory with Caution, Avoid Blind Trading

Bearish Strategy:

If it falls below $0.30, consider following the short position, targeting $0.26193 or even $0.22791, with a stop-loss suggested above $0.315.

Bullish Strategy:

If the price stands above $0.34 (20-day moving average), consider entering a long position, targeting $0.38, with a stop-loss suggested below $0.32.

The current situation is waiting for a breakthrough signal, with the bulls and bears in a standoff like a powder keg; even a slight disturbance could trigger an explosion!