DOGE breaks through $0.41, short-term bulls are coming, where to look for the next target?
1. Market Analysis
Current DOGE price: $0.41559, daily high $0.41907, daily low $0.40666. DOGE has recently formed support near $0.41 and has broken through the short-term resistance zone of $0.41. The current price is close to $0.42, and if it breaks this resistance level, DOGE is expected to continue rising, with a target of $0.43, or even further challenge $0.45.
2. Technical Analysis
Support Levels:
$0.41 (First Support): The current support level; if the price retraces to this point, it is expected to receive support and rebound.
$0.40 (Second Support): If it breaks below $0.41, $0.40 will become the next support level, expecting a rebound.
$0.38 (Third Support): If the price continues to decline, $0.38 will be a stronger support area, and the chance for a rebound still exists.
Resistance Levels:
$0.42 (First Resistance): After breaking this level, DOGE is expected to continue rising, targeting $0.43.
$0.43 (Second Resistance): If it breaks above $0.42, $0.43 will become the next key resistance area.
$0.45 (Third Resistance): If the upward momentum continues, $0.45 will be the next stronger resistance level.
3. Short-term Contract Strategy
Long Strategy:
Initial Entry: $0.416 (close to current price)
Add Position Points: $0.41 (First Support), $0.40 (Second Support)
Stop Loss Level: $0.38
Take Profit Level: $0.42 (First Target), $0.43 (Second Target)
Short Strategy:
Initial Entry: $0.43 (Second Resistance)
Add Position Points: $0.45 (Third Resistance)
Stop Loss Level: $0.46
Take Profit Level: $0.42 (First Target), $0.40 (Second Target)
If DOGE breaks above $0.42, it is expected to surge towards $0.43 or even $0.45 in the short term! If it retraces to the $0.40 support level, a rebound may still occur, maintaining the potential for an upward trend.
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