DOGE USDT TECHNICAL ANALYSIS‼️

Currently, the price has bounced off the low and is hovering around 0.37158. The Relative Strength Index (RSI) is around 55, suggesting a moderate momentum but not in the overbought or oversold zones, leaving room for movement in either direction.

Support and Resistance Levels:

- Support: 0.35229 - This level has acted as a significant support where the price found a floor before rebounding.

- Resistance: 0.37269 - The price is currently approaching this level, which may act as resistance. Further up, 0.39632 could be a stronger resistance level if the price breaks above 0.37269.

Long Position:

Consider entering a long position if the price breaks and holds above the 0.37269 resistance level. A target could be set at the next resistance near 0.39632, with a stop-loss slightly below 0.37269 to protect against a false breakout.

Short Position:

A short position may be favorable if the price fails to break the 0.37269 resistance and starts to move downwards again. Entering around 0.37158 with a target near the 0.35229 support could provide a good risk-to-reward ratio. A stop-loss could be placed slightly above 0.37269.

Additional Insight:

Keep an eye on the RSI for any divergence signals or shifts in momentum. A move above 60 could indicate increased buying pressure, whereas a drop below 40 might signal strengthening bearish momentum