$DOGE is currently in a bullish trend. Price broke out above the midline of the regression channel around May 9th and is now retesting the upper half of the channel after a strong move up.

Support Levels:

0.2200 – Mid-level of the regression channel and a consolidation base before breakout.

0.2000 – Lower level of recent bullish structure and previously respected buy zone.

Resistance Levels:

0.2600 – Local high reached during the recent breakout.

0.2450 – Near current price and top of regression channel.

Volume:

Volume is increasing during upward moves, showing strength behind the trend.


🧠 Suggested Trade Setup: Long Position (Buy)


✅ Entry Point (Buy Limit):

$0.2200 – $0.2250

This area aligns with the mid-regression line and previously broken resistance. It's a good retest zone and offers lower risk entry after recent rally.


🛑 Stop Loss:

$0.2090


Just below the recent accumulation range and regression support. If price drops here, the bullish trend is in question short-term.


🎯 Take Profit Targets:

  1. TP1: $0.2450 (near-term resistance & regression top)


  2. TP2: $0.2600 (recent swing high)


  3. TP3 (extension): $0.2750 if volume surges and trend continues.


Indicators Used:

  • Linear Regression Channel (Green Dashed & Solid Lines)

  • UT Bot Alerts (Buy/Sell Signals)

  • Volume

  • Candlestick Price Action

📌 Reasoning

  • The breakout above the regression midline was backed by volume and momentum, which suggests continuation.

  • Re-entering near support (midline of the channel) is safer than chasing the current price.

  • Placing stop loss below accumulation zone ensures controlled risk if the trend fails.

  • This trade offers a 3:1+ risk-reward ratio, especially if targeting $0.2600 or higher.



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