I will analyze the technical indicators and give my assessment for $DOGE :
TECHNICAL ANALYSIS:
1. Momentum Indicator:
- RSI (6,12,24) is in the neutral zone (40-50), indicating the trend is accumulating
- MACD is flat and close to the signal line, showing a clear lack of momentum
- Stochastic K,D shows over-sold signal, with the possibility of a short-term recovery
2. Volume Index:
- Average volume is decreasing in the last 4 hours
- MFI14 is in the 35-40 zone, indicating that selling pressure is dominant
- CMF20 is negative, confirming the money flow is withdrawing
3. Price Analysis:
- Trading below MA20,50,100 lines
- Bollinger Bands are narrowing, indicating that volatility may increase
- Price is in a short-term downtrend channel limit
NEXT 4-24H TRADING SCENARIO:
Scenario 1 (60% chance):
- Price continues to sideway in the range of $0.382-0.388
- Confirmation signs: Volume remains low, RSI is flat
- Potential volatility +-2%
Scenario 2 (30% chance):
- Retest the support zone of $0.380-0.382
- Confirmation signs: Volume increases sharply when reaching this price zone
- Potential volatility -3% to -4%
Scenario 3 (10% chance):
- Break up above $0.388 and test $0.392-0.395
- Need for sudden volume and MACD to cross up
- Potential volatility +4% to +5%
TRADING RECOMMENDATION:
- Should not go LONG at the current price zone
- Can consider consider LONG if price tests $0.380-0.382 with increasing volume
- Stop loss: $0.378
- Take profit: $0.388-0.392
VOLATILITY ASSESSMENT +-5%:
- Low possibility in the next 4-24 hours due to:
1. Weak momentum indicators
2. Volume is low
3. Trading range is narrowing
4. No strong catalyst
Need to monitor more factors:
- Sudden volume
- Break out of current downtrend channel
- Macro news can have an impact