$DOGE /USDT, we can conduct a technical analysis🔥 to determine potential entry levels for long and short trades. Below is a professional analysis report summarizing the current market conditions, key levels, and trade suggestions.
$DOGE /USDT Analysis Report
Current Price
Current Price: £0.13796
Price Change (24h): -4.55%
Key Trading Data
24h High: £0.14659
24h Low: £0.13650
24h Volume (USDT): 202.76M
Volume (DOGE): 1.44B
Market Condition: Bearish (recent decline in price)
Technical Indicators
1. Support and Resistance Levels:
Support Level: £0.13650 (24h low)
Resistance Level: £0.14100 (immediate resistance)
2. Price Action:
The current price is trading near the lower end of its recent range, indicating potential support around £0.13650.
The price has shown resistance at £0.14100, indicating sellers are active at this level.
3. Volume Analysis:
Recent trading volume is moderate, suggesting no strong momentum.
A volume spike could indicate a potential breakout or breakdown.
4. Moving Averages:
Monitor the short-term moving averages (SMA) for bullish or bearish crossovers.
A crossover above the 9-period SMA could indicate a potential buy signal.
Trade Entry Levels
Long Trade Entry
Entry Point: £0.13900
Stop Loss: £0.13650 (below support)
Take Profit: £0.14200 (resistance level)
Rationale: Entering at £0.13900 allows for a bounce off support at £0.13650 with potential upside to the resistance level at £0.14200.
Short Trade Entry
Entry Point: £0.13650
Stop Loss: £0.13900 (above recent highs)
Take Profit: £0.13400 (next support level)
Rationale: A breakdown below the support level at £0.13650 opens the possibility for further declines, targeting £0.13400 as the next support area.
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