Technical analysis and today's forecast

1. Candlestick and moving average system analysis

  • 4-hour candlestick chart: DOGE has shown a significant upward trend recently, breaking through multiple moving average resistances. The 7-day moving average (MA7) is strongly rising, currently forming short-term support at 0.38868. Overall, the short-term trend remains bullish, but the upward momentum has weakened after approaching the previous high of 0.39864.

  • 1-hour candlestick chart: Clear signs of high-level consolidation, with bullish momentum weakening. Meanwhile, the distance between MA7 and MA30 is narrowing, indicating a potential short-term pullback risk.

2. Review of yesterday's trend

Yesterday, DOGE started to rise from around 0.365, reaching a high of 0.39864, consistent with the characteristics of oscillating upward after a breakout, but failed to effectively break through the psychological barrier of 0.400. This position has heavy pressure, and today the short-term may focus on high-level pullback corrections, with caution advised against the risk of false breakouts falling back to the support area.

3. Technical indicators analysis

  • MACD (4 hours): The DIF line and DEA line have formed a golden cross, but the red bars are shortening, indicating that the upward momentum is gradually weakening.

  • RSI (1 hour): Has entered the overbought zone, with a value around 70, indicating a short-term need for correction.

  • Bollinger Bands (1 hour): DOGE is currently in the upper Bollinger Band area, and the price is likely to converge towards the middle band (about 0.385) for repair.

Operation suggestion (short-term strategy)

Based on the current trend, it is recommended to primarily adopt a high-sell low-buy strategy, combined with support and resistance levels for layout.

Direction: Long

Entry position: 0.38500-0.38700

First target: 0.39800

Second target: 0.40500

Stop-loss level: 0.38000

Today's DOGE trend is expected to focus on high-level oscillation repair, likely fluctuating in the range of 0.385-0.398. Short-term operations are recommended to adopt a high-sell low-buy strategy within the range. If it breaks above 0.400 with volume, it may reach 0.405, but overall space is limited, so investors are advised to control their positions and strictly implement stop-loss.

Understanding market rhythms is the beginning of wealth control! Follow Lao Tan closely, lay out in advance, and let the next peak belong to your account! Pay attention to Lao Tan, and never let opportunities slip away!
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