The current candlestick chart shows that DOGE has recently experienced a rapid rise, peaking at 39.66, followed by a pullback, with the current price around 36.742. The moving average system shows a bullish arrangement (short-term MA7 > medium-term MA30 > long-term MA100), indicating that the overall trend remains strong.
Short-term Support Level: 36.00 (recent low)
Strong Support Level: 30.00 (the main support area of the previous rise)
Short-term Resistance Level: 38.50 (near yesterday's high)
Strong Resistance Level: 40.00 (psychological round number)
Yesterday the price tested the high of 39.66 but then retreated, indicating some selling pressure at high levels. Today focus on whether it can hold the support of 36.00 and test resistance again.
Forecast Direction: Bullish
After the current price pulls back to the support level, if it stabilizes and rises with increased volume, it may continue to test the resistance area of 38.50-40.00.
Opening Position: Wait for the price to pull back to the 36.50-36.80 area and look for signs of a bottom before opening a long position.
First Take Profit Level: 38.50 (short-term resistance level)
Second Take Profit Level: 40.00 (round number)
Stop Loss Level: 35.50 (stop loss if short-term support is broken)
RSI: Currently, if the RSI value is above 50, it indicates that bullish strength is still present; if it breaks 70, caution is needed for overbought risk.
MACD: Pay attention to the golden cross or death cross signals of DIF and DEA to confirm whether bullish momentum continues.
Trading Volume: If the price retraces to the support level with increased volume, the bullish signal is more reliable; conversely, a rebound with decreased volume should be approached with caution.
Position Building Strategy: Observe around 36.50. If the price touches this area and stabilizes, with accompanying volume, consider gradually building a position.
Position Management: After reaching the first take profit target, reduce the position by 50%, and continue to aim for the second target with the remaining position.
Risk Control: If the price falls below 35.50, decisive stop loss is needed to avoid further losses.
This strategy is based on the current technical formation and market environment, but must be dynamically adjusted according to real-time market conditions. Always strictly implement stop losses when trading and pay attention to controlling position sizes.
When RSI and MACD point in the same direction, Mr. Autumn will also guide your path forward, so pay attention!
