The $DODO /USDT chart shows a substantial price surge from $0.0975 to a high of $0.1590 within the 4-hour timeframe, reflecting a 25.86% gain. This strong bullish movement is indicative of increased buying pressure, likely fueled by favorable market conditions or positive sentiment around DODO. After hitting the high of $0.1590, the price has retraced slightly to $0.1426, signaling some profit-taking by traders.
The current resistance level is at $0.1590, where the price faced rejection. A break above this level with increased volume could trigger another leg up in the bullish trend, potentially driving DODO/USDT to new highs. On the downside, immediate support is located around $0.1170, where the price consolidated before the recent breakout. This support level will be critical to watch in case of further pullbacks.
For traders looking to go long, it might be wise to wait for a confirmed breakout above $0.1590 or consider entering on a pullback near the $0.1170 support. Stop-losses should be placed below key support levels to manage risk effectively, especially considering the recent volatility and sharp price movements. A continuation of the bullish momentum could result in further gains, but caution is advised due to potential corrections.
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