Is a short-term explosion of DOGE imminent? After the nighttime fluctuations, can Dogecoin once again challenge the key level of $0.45!

The current real-time price of DOGE is $0.39830. Last night, the market experienced significant fluctuations, reaching a high of $0.42877 and a low of $0.39460, with a volatility close to 5%. From the trend, DOGE has received strong support in the short term, especially around the $0.394 mark, showing some rebound potential. If it can break through the resistance area of $0.42 today, DOGE is expected to challenge the critical level of $0.45 again.

Currently, market sentiment is relatively cautious, but bullish sentiment dominates in the short term. With the overall rebound in the cryptocurrency market, DOGE may also welcome further increases.

Technical Analysis:

Support and Resistance:

Support Level: The area between $0.394 and $0.395 is a strong support level; this price range has attracted buying multiple times, showing strong market rebound momentum. Resistance Level: The range between $0.428 and $0.430 is the current key resistance level; breaking through this range could lead DOGE to further highs.

Bollinger Band Analysis:

The current Bollinger Bands for DOGE show slight expansion, with the price hovering near the mid-band, indicating increased market volatility. If it breaks through the upper band at $0.428, the upward space may continue to expand.

RSI Indicator:

The RSI is close to 50, with the market in a state of fluctuation, showing no obvious overbought or oversold conditions. Therefore, the price may break through, pushing the bullish trend.

Long Strategy:

Entry Position: If DOGE pulls back to around $0.395 and gains support, forming a rebound signal, consider going long. Take Profit Position: Targeting $0.428; if the price breaks this level, it may reach $0.45. Stop Loss Position: If the price falls below $0.39, exit the position to stop loss.

Short Strategy:

Entry Position: If DOGE price rebounds to around $0.428 but fails to break through and shows selling pressure, consider going short. Take Profit Position: Targeting $0.395; if the price fails to effectively break $0.428, a pullback may occur. Stop Loss Position: If it breaks $0.45, the short strategy becomes invalid, and immediate stop loss is required.