Doge next move $0.5?👇
The DOGE/USDT 12-hour chart highlights a consolidation phase with potential for both breakout or retracement. Here's the analysis:
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Key Observations:
1. Resistance Zone: DOGE is facing resistance near $0.42–$0.45, where it has previously struggled to break through.
2. Support Zone: Strong support lies around $0.35–$0.37, which has been tested and held multiple times.
3. Volume Analysis: Current volume is moderate, indicating a possible buildup before the next major move.
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Trade Plan:
Buy Ranges (For a Pullback):
Accumulate near the support zone at $0.35–$0.37.
DCA levels: $0.33 and $0.30 for deeper corrections.
Targets (If Bullish Breakout):
Target 1: $0.45 (short-term resistance).
Target 2: $0.50 (psychological barrier).
Target 3: $0.55–$0.60 (extension of bullish momentum).
Stop Loss:
Conservative SL: $0.32 (below support zone).
Aggressive SL: $0.30 (below previous swing lows).
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Sell Signal:
If DOGE fails to break $0.42–$0.45, it may retrace to support. A breakdown below $0.30 could lead to further bearish momentum, invalidating the bullish structure.
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Strategy:
Breakout Entry: Consider entering above $0.45 with confirmation and volume.
Pullback Entry: Buy near $0.35–$0.37 for a potential bounce.
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