$DOGE Coin Analysis on the Hourly Frame:
♥ Every drop is an opportunity for consolidation and not for selling at a loss♥
Technical analysis of DOGE/USDT:
1. General trend:
The current trend indicates a strong decline, as shown by the long red candle.
Moving averages (MA) indicate the beginning of a negative crossover:
MA(7): at 0.37259.
MA(25): at 0.38539.
2. Supports♥:
The closest support is at 0.35684 (the achieved bottom).
Additional support can appear at 0.35000.
3. Resistances♥:
First resistance at 0.37200 (the area between MA(7) and MA(25)).
Main resistance at 0.39831 (the highest price in the last 24 hours).
4. Relative Strength Index (RSI):
Current value: 15.61, which indicates that the currency is in a strong oversold zone, and a rebound may follow.
5. MACD Indicator:
The lines are in a negative position (MACD is below zero), which reflects the continuation of selling pressure.
Recommendations♥:
For short-term speculation: Wait at support levels such as 0.35684 and if a rebound appears with a bullish candle, you can enter with a condition of placing a close stop loss.
For long-term investors: If you want to buy, it is better to wait for confirmation of the trend reversal (for example, a positive crossover in the moving averages or an improvement in the RSI).