Technical analysis overview:
1. Four-hour chart analysis:
DOGE has recently surged near 0.26 and then retreated, currently entering a consolidation structure, forming a similar 'symmetrical triangle' convergence pattern.
Moving averages show MA5<MA10<MA30, short-term bias is bearish, but the downward momentum is clearly weakening.
The key support level is in the 0.21 area, if it can stabilize, it is expected to challenge the upper track of the 0.226-0.23 range again.
2. One-hour chart analysis:
Repeatedly touching around 0.215-0.216 has formed a small W-bottom pattern, with a clear short-term stop-loss signal.
Trading volume has increased without a significant sell-off, the main force may be accumulating in this area.
A rebound effectively breaking 0.22 will open up upward space.
3. Daily level:
From the bottom of 0.12983 to the high of 0.259, the first wave of rise has been completed, and it is currently in a healthy correction period.
The overall trend initially shows a 'band rising' pattern, and the main force has not completely exited the market, still possessing upward momentum.
DOGE strategy suggestion for today (May 18):
Current reference price: 0.21650
Leverage multiple: 75 times
Project Point Description
Opening position 0.21600 Near the dense consolidation area, beneficial for risk control
First take-profit level 0.21924
Second take-profit level 0.22299
Stop-loss level 0.21109
Take-profit strategy: After the first take-profit point, you can move the stop-loss to the entry point to lock in profits; if reaching the second take-profit level, it is recommended to take profit on half of the position.
Short-term direction assessment:
Combining the overall trend and trading volume, DOGE has a higher probability of strong upward fluctuations in the short term, with clear defense from the main force around 0.215. Breaking 0.22 is likely to open up a new round of upward space, pay attention to whether there is an increase in volume.
However, one must still guard against false breakouts and retreats, the key point is: hold 0.211, do not break hold, break it and exit.
Operation reminder:
Risk control is key, do not go full position, remember to use light positions with 75 times leverage;
This strategy is for short-term intra-day speculation, do not heavily bet on direction;
Do not blindly trust market 'calls', please make decisions based on your own risk tolerance.
Ending guidance:
Market fluctuations are like the sea, the clouds guide like a lamp, follow the clouds closely, don't be a headless fly!#山寨季何时到来？ #SUI #PEPE #OM #ETH $BTC $ETH $DOGE
