$DOGE /USDT trading at $0.38921, recording a 10.80% surge in the past 24 hours. Here's the analysis:
1. 24H Range: The price fluctuated between $0.35071 (low) and $0.39516 (high), with the latter acting as a short-term resistance.
2. Volume: DOGE traded 2.65B tokens, equivalent to $1.00B USDT. High trading activity supports the bullish momentum.
3. Technical Levels:
Immediate resistance lies at $0.39516. A breakout here could push the price toward the $0.40000 psychological level.
Support is identified near $0.36714, where consolidation occurred during the uptrend.
The $0.30666 level marks the base of the rally and acts as strong support.
4. Price Action: The strong upward trend suggests a continuation of bullish momentum. However, the price is consolidating below resistance, indicating potential profit-taking or a pause before another leg up.
Signal:
Bullish Continuation: Buy above $0.39516, targeting $0.40500 and $0.41500. Place a stop loss at $0.36700.
Pullback Strategy: Consider buying near $0.36714 if the price retraces, aiming for $0.38000 and $0.39500.
Monitor volume spikes and resistance levels for confirmation before entering positions.
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