$DOGE
/USDT Technical Analysis and Trade signal 🚀
Price Overview:
Current Price: $0.37602
24h High: $0.42716
24h Low: $0.36500
Recent Price Movement: -11.38%
Key Technical Indicators:
Bollinger Bands (20, 2):
Upper Band: $0.40609
Middle Band: $0.38742
Lower Band: $0.36876
Parabolic SAR (0.02, 0.2): $0.37934
Trend Analysis:
Bearish Momentum: The price has been declining, and the current price is below the middle Bollinger Band ($0.38742), indicating a bearish trend. The price is close to the lower Bollinger Band ($0.36876), suggesting potential support.
SAR Signal: The SAR level of $0.37934 indicates that the trend is currently bearish. A break below this level may confirm further downside.
Trade Signal:
1. Short Position (Bearish Setup):
Entry: $0.37600 (current price)
Target Levels (T1, T2, T3):
T1: $0.36876 (Lower Bollinger Band)
T2: $0.36500 (24h Low)
T3: $0.35500 (Fibonacci retracement/extended target)
Stop Loss: $0.38500 (slightly above the middle Bollinger Band)
Trade Rationale: Given the bearish momentum and the price being near the lower Bollinger Band, a short position can be considered with targets at the lower support levels.
2. Long Position (Bullish Reversal Setup - If Breaks Resistance):
Entry: $0.38000 (above SAR level)
Target Levels (T1, T2, T3):
T1: $0.38742 (Middle Bollinger Band)
T2: $0.40609 (Upper Bollinger )
T3: $0.41500 (Resistance zone)
Stop Loss: $0.36800 (below the recent low)
Trade Momentum:
Bearish Momentum: The current trend is still predominantly bearish with a negative 24h price change of -11.38%. Watch for confirmation if the price breaks below $0.36500 (24h low) for further downside movement.
Reversal Potential: If the price manages to break above $0.37934 (SAR level) and the middle Bollinger Band at $0.38742, there could be a shift toward bullish momentum with targets at $0.40609 (upper Bollinger Band) and beyond.
Key Risk Factor: Any break below $0.36500 could accelerate the bearish trend, so it's important to manage risk carefully with appropriate stop loss orders.
