DOGE seeks support after a decline. Can it stabilize and rebound?

Market Analysis

The current price of DOGE is $0.43308, with a 24-hour drop of 5.05%. The recent price has retraced from a high of $0.48434 and is currently oscillating around $0.42811. Technical indicators show that the RSI has fallen to the 50 area, and the MACD has turned below the zero axis, indicating strong short-term downward momentum.

Support and Resistance Levels

Support Levels

1. $0.4280

2. $0.4000

3. $0.3700

Resistance Levels

1. $0.4500

2. $0.4700

3. $0.4840

Short-Term Trading Strategy

Long Position Strategy

• Entry Point: $0.4280

• Add Position Point: $0.4000

• Stop Loss Point: $0.3700

• Take Profit Points: $0.4500, $0.4700

Short Position Strategy

• Entry Point: $0.4500

• Add Position Point: $0.4700

• Stop Loss Point: $0.4840

• Take Profit Points: $0.4280, $0.4000

If DOGE can hold the support level at $0.4280, it may rebound to $0.4500 in the short term; if it fails to hold, it may further decline to test the key support at $0.4000.

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