DOGE/USDT movement analysis according to the picture:
1. General pattern (Structure):
The currency is moving in an upward range on the 4-hour time frame, with improving momentum.
We noticed Higher High (H.H) and Higher Low (H.L) formations which indicate a continued uptrend.
The Bull Run area identified represents a strong resistance level.
2. Head and Shoulders Pattern:
If the Bull Run area (resistance line) is broken, we may witness the realization of an inverse head and shoulders pattern.
If the breakout is confirmed with strong trading volume, it could lead to a rally of up to 100%, as expected.
3. Possible scenarios:
Emerging scenario:
Breaking the resistance at Bull Run with continued positive momentum will boost the upside chances.
The next upside targets could be the $0.50 - $0.55 levels.
Bearish scenario:
Breaking the support level at $0.42 will lead the price back towards $0.40 levels and perhaps lower.
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4. Related news:
Positive morale:
Momentum rises as DOGE adoption as a payment method increases on new platforms.
Continued interest from online communities such as the DOGE Army.
Potential risks:
The impact of negative news from traditional markets may hinder the rise.
Decrease in liquidity due to a decline in general market sentiment.
Recommendations:
Watch the resistance at Bull Run closely, as the breakout is the main entry point.
Risk Management: Set stop loss below support at $0.42.
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A brief analysis of the AN MISSION FOCUSED team:
The currency is ready for a big move, with positive signals. Close monitoring and risk management are recommended.
THERE IS$ADA