$DOGE COIN ANALYSIS š±? PUMPšOR DUMPš
Recent Trend:
ā¢The price experienced a strong bullish rally from approximately $0.15 to $0.45 before consolidating near $0.36.
ā¢ A notable increase in volume supported the breakout rally, indicating strong buying interest.
Current Structure:
ā¢ The price is consolidating after reaching a peak around $0.45.
ā¢ This consolidation could indicate a pause before the next major move (either a continuation upward or a correction downward).
Volume Profile:
ā¢ Volume shows a gradual decline during the
consolidation phase, suggesting a potential breakout in either direction once volume increases again.
Bullish Scenario
If bullish momentum resumes:
ā¢ Immediate Resistance: $0.39 (recent high before pullback).
ā¢ Key Bullish Target: $0.45 (previous swing high).
ā¢ Extended Bullish Target: $0.50 (psychological level and Fibonacci extension).
For a sustained bullish breakout, DOGE needs to hold above $0.39 with increasing volume.
Bearish Scenario
If bearish pressure builds:
ā¢ Immediate Support: $0.35 (local support level).
ā¢ Key Bearish Target: $0.30 (strong horizontal support and previous consolidation zone).
ā¢ Extended Bearish Target: $0.25 (Fibonacci retracement level and psychological zone).
A breakdown below $0.35 with strong selling pressure could push the price toward lower supports.
Indicators to Monitor
RSI: Check if the Relative Strength Index shows overbought or oversold conditions.
Moving Averages: Use 50 EMA and 200 EMA to see whether the trend remains bullish or flips bearish.
Volume Spike: Look for a breakout confirmation with high volume.
