Dogecoin ($DOGE
) Technical Analysis & Trade Signal
Current Price: $0.3118 USD
Trend: Bearish momentum after a 45% decline from recent highs.
Key Levels 🎯:
1. Target 1: $0.2293 – Strong support from March; breaking this could indicate further downside.
2. Target 2: $0.1953 – Major support/resistance level; a further decline could take DOGE here.
3. Target 3: $0.1800 – Deeper support; if bearish momentum persists, DOGE may hit this level.
Trade Signal:
Momentum: Bearish (Wyckoff markdown phase).
Recommendation: Consider selling or reducing exposure. Short traders may target $0.2293 and $0.1953.
Risk Management: Be cautious of "dead cat bounce" rallies. Use stop-losses to manage risk.