💡 Quick Technical Analysis:
✅ Notable Rise! DOGE is up by +6.16% reaching $0.18379, after a strong bounce from the low at $0.16901, indicating active buying strength in the market.
✅ RSI is at extreme overbought levels! The Relative Strength Index RSI(6) is at 83.51 – this is a clear signal of overbought conditions, and we might see a correction soon, but at the same time, it reflects the confidence of speculators in the price.
✅ Positive MACD with increasing momentum! A bullish crossover between the MACD and DEA lines, with a clear increase in momentum – enhancing the chances of a continued rise in the short term.
✅ Good trading volume! Approximately 996M DOGE traded in the last 24 hours – confirming active movement and market attention towards this currency.
✅ Nearing a strong resistance breakout! The price is approaching the resistance at $0.18562, and if it breaks through, we might see a rise towards $0.193 - $0.20.
🚀 Expected Scenario:
If DOGE manages to break through $0.18562, the path may be clear to test the previous peak at $0.19300, and possibly higher. If the breakout fails, it may return to test nearby support areas at $0.176 - $0.169.
🔥 Is DOGE preparing to surprise the market?!
With strong market momentum and trader enthusiasm, the opportunity looks promising – but caution is necessary for sudden corrections, especially with the high RSI.
My Tips for You:
Don't forget to set a stop loss below the $0.169 area.
Combine technical analysis with news (such as Elon Musk's movements or adoption news) as they significantly impact DOGE!
📢 What do you think? Do you see DOGE possibly retesting $0.20 soon? Or will it return for a correction? Share your opinion with me! 👇