🚨 DOGE Technical Analysis: Bearish Caution! 🚨
DOGE has shown some weakness in the last few hours, breaking the key support of $0.38500. 📉 Let's see what the technical analysis tells us:
Trend: Bearish in the short term.
Supports:
* $0.38000 (current support)
* $0.37500 (Fibonacci retracement 61.8%)
* $0.36000 - $0.35000 zone (confluence of historical supports)
Resistances:
* $0.39900 (recent high)
* $0.40436 (high of the day)
Indicators:
* RSI: in oversold zone, possible short-term rebound, but we need confirmation with bullish divergences.
* MACD: Negative histogram, we are looking for a bullish crossover to confirm a trend change.
Possible entry points (bearish scenario):
If you are looking to buy DOGE in this bearish scenario, consider these entry points:
* $0.38000: If the current support holds, you could consider an entry here with a stop-loss below $0.37800.
* $0.37500: More conservative entry, waiting for a bounce at the 61.8% Fibonacci retracement.
* $0.36000 - $0.35000 area: Area of greater confluence of supports, but with greater risk, as the price could fall sharply to here.
Remember:
* ⚠️ The cryptocurrency market is volatile. Manage your risk!
* 🎯 Always define a stop-loss to limit your losses.
* 📊 Don't rely on this analysis alone. Do your own research!
Share your thoughts in the comments! 👇
What do you think about DOGE? Do you think it will continue to fall or will we see a rebound soon? 🤔
