Today, let's talk about the popular cryptocurrency that everyone is paying attention to recently — Dogecoin (DOGE). On the 4-hour candlestick chart, we can see that the price of Dogecoin is fluctuating within a consolidation range. Although there are some signs of a rebound in the short-term trend, overall it still appears to be quite hesitant. What does this mean? How can we seize the opportunity? Let's continue reading.
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I. Price Trend: Consolidation with potential for a short-term rebound
First, let's look at the candlestick pattern. Recently, the price of Dogecoin has been fluctuating between 0.31189 and 0.32931 USDT. This range acts like a 'box', with clear support and resistance on both sides. On December 27, the price experienced a significant drop (a large bearish candlestick), but then gradually rebounded, indicating that the forces of bulls and bears are still in contention.