$DODO price analysis whatâs next??? BUY OR SELL đšâïž
The chart highlights a significant change as the price bounced off a crucial demand zone around $0.10, marked by the grey area. This area acted as a strong support level where buying pressure increased, leading to a reversal. As the price moved up, it broke through several equal highs (EQH), which are usually areas of resistance and liquidity. Breaking above these levels suggests a shift in market sentiment with buyers now in control.
The most recent price action shows a strong upward move, indicating a potential breakout and trend reversal. This surge past the EQH levels suggests that the market has taken out key resistance zones, triggering stop-loss orders and fueling further buying The current level of around $0.1423 could serve as a staging point for further gains if the bullish momentum continues.
Looking forward, the immediate target for the price could be around the $0.15 level, which serves as a psychological resistance and potential area for profit-taking If the price manages to hold above the previous resistance now turned support, it could signal the continuation of the upward trend. However, traders should be cautious of potential pullbacks as the market tests these new highs.
Overall, the chart suggests a bullish outlook in the short term, with the possibility of further gains if current momentum is maintained. The previous demand zone remains a key level to watch in case of any retracements.
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