#DOGE

4-hour time frame

Current data analysis indicates a negative situation at the moment on the DOGE/USDT price. Based on the following indicators:

Technical indicators:

1. RSI (Relative Strength Index):

RSI (6): 43.17

Indicates that it is close to the neutral zone, but the overall trend shows weak buying momentum.

2. Stochastic RSI:

Its reading is at 74.43 and 75.58, indicating that it is close to the overbought zones.

The price may be subject to a downward correction.

3. MACD:

The difference between DIF and DEA (-0.01399 and -0.01604) is negative.

Indicates the continuation of the downtrend and weak positive momentum.

4. Bollinger Bands:

The price is moving near the lower bound at 0.28154, indicating strong selling pressure.

5. Volume:

Shows a decline in volume, which supports the continuation of the negative trend.

6. Wm %R (Williams Indicator):

Current reading -37.61 indicates a neutral to bearish movement.

Recommendations:

1. For day trading:

Avoid buying at the moment, and wait for the price to drop to a strong support level (around 0.30 or lower).

Sell at any temporary price rebound near 0.33 or 0.34 levels.

2. For long-term investors:

Make sure to see positive reversal signals before entering, such as RSI breaking 50 or MACD positivity.

3. Warning:

Continued decline below the key support level at 0.305 could lead to a significant price drop.