Doge
$DOGE ⚠️ ALERT FOR THE NEXT 12 HOURS
$DOGE DOGEUSDT, here is the technical analysis for the next 12 hours:
1. Price Trend
Last Price: $0.40731.
The price experienced a strong bullish rally but is now entering a consolidation phase or potential correction.
The trend remains bullish overall, supported by the moving averages (MAs) sloping upward.
2. Key Indicators
MACD: Still in positive territory, but the histogram is narrowing, signaling weakening momentum.
RSI: Around 60, showing the market is cooling off after being overbought earlier.
Stochastic RSI: Approaching oversold levels, suggesting a potential bounce if support holds.
Volume: Declining compared to the initial rally, indicating reduced buying pressure.
3. Key Levels
Resistance:
$0.4310: Immediate resistance, based on recent highs.
$0.4400: Secondary resistance if bullish momentum resumes.
Support:
$0.4000: Nearest support, aligning with recent consolidation.
$0.3800: Stronger support level if correction deepens.
4. Trading Strategy
For a bullish setup:
Buy Entry:
Enter around $0.4000-$0.4050 during pullbacks.
Confirm entry with volume increase or bullish signals on the Stochastic RSI.
Stop Loss (SL):
Place SL below $0.3800 to limit risk.
Take Profit (TP):
TP1: $0.4310 (immediate resistance).
TP2: $0.4400 for extended upside.
For a bearish setup:
If the price fails to break above $0.4310, short positions could be considered with:
Entry: Near $0.4280-$0.4310.
SL above $0.4400.
Targets: $0.4000 and $0.3800.
5. Market Conditions
Current sentiment is neutral to bullish, with the potential for a short-term pullback before resuming upward momentum.
Watch for increased volume and MACD confirmation for a stronger breakout above resistance levels.
DOGEUSDT
0.40746
-3.78%