Let's bottom fish DOGE, guys
Preliminary analysis:
1. Current price (0.30526 USDT):
• Decreasing -5.01% compared to the previous time.
• Lowest price in 24 hours: 0.30280 USDT.
• Highest price in 24 hours: 0.32460 USDT.
2. Trading volume (24 hours):
• DOGE: 2.22B.
• USDT: 699.64M.
3. Price trend (15 minutes):
• The candlestick chart shows a clear downtrend, with the price testing the support level of 0.30280 USDT.
• Trading volume spiked as the price fell, indicating strong selling pressure.
4. Technical indicators:
• MA(5) and MA(10): The short-term moving averages are crossing down, confirming the downtrend.
• Larger time frame (30-90 days): Price has dropped sharply in the short term (24-30 days) but shows growth in the long term (90-180 days), indicating high volatility.
5. Order book:
• Buy ratio: 22.59%, sell ratio: 77.41% → Heavily skewed towards selling, consistent with the current downtrend.
Trading suggestion:
• Short term: If the price breaks the support at 0.30280 USDT, the downtrend may continue. Investors may consider entering a short position.
• Long term: If you believe in the potential of DOGE, wait for the price to test lower support levels (below 0.30 USDT) to buy in.
$DOGE $BTC
