DOGE has surged to $0.38878, with bulls clearly in control and strong momentum pushing prices higher. Here's a breakdown of the current technical outlook for the next six hours:
Technical Analysis:
1. Indicators & Momentum:
RSI: The 1-hour chart shows RSI is likely in overbought territory, signaling that DOGE may be due for a slight pullback. This suggests that buying pressure might be cooling off for now.
EMA (20 & 50): The 20 EMA is still above the 50 EMA, indicating that the upward trend remains intact. A small dip to the 20 EMA could help the trend consolidate without breaking the bullish momentum.
2. Support & Resistance Levels:
Resistance: The key resistance level lies around $0.40. If DOGE continues to rise, this will be the first major hurdle to overcome.
Support: On the downside, $0.3369 is the support level to watch. If DOGE pulls back, this level may offer a good entry point for buyers looking to reenter.
3. Whale Activity:
Large holders are still active, but there’s some hesitation at these elevated prices. There may be sell orders just above $0.39 as whales could be taking profits and might wait for a pullback before reentering.
Next Move – Prediction:
Scenario 1: Push Higher – If DOGE breaks above $0.40 with strong volume, it could continue rallying and potentially reach even higher levels, attracting more buying interest.
Scenario 2: Brief Pullback – Given the overbought RSI and potential profit-taking, a pullback to $0.3369 seems likely. This would allow the price to consolidate before making another upward move.
Best Trade Setup – Short-Term (6 Hours):
If DOGE struggles at the $0.40 resistance and shows signs of stalling, a short position targeting a retracement to $0.3369 could be a good play.
Alternatively, if DOGE pulls back to $0.3369 and finds support, this could be a solid entry point for a long position, aiming for a push back towards $0.40 or higher.
Bottom Line: DOGE is on an impressive run, but it's approaching key levels. If it breaks $0.40, a further rally could follow. However, a pullback to $0.3369 is also a possibility as buyers take profits. The next six hours will be critical – whether it’s a breakout or a pullback, this is an exciting time for DOGE traders!
See now...👉 $DOGE 👇
DOGEUSDT Perp: 0.41161 (+46.61%)
Disclaimer: Includes third-party opinions. Not financial advice. May contain sponsored content. See T&Cs.
