COIN NAME: $DOGE
POSITION: LONG
ENTRY PRICE: 0.2166
On the 1-hour chart, Dogecoin is forming a descending triangle, characterized by a horizontal support level and a descending resistance line. This pattern typically suggests a bearish continuation; however, if DOGE maintains support at the lower boundary, a bullish reversal could occur. Traders should watch for a decisive breakout above the descending trendline, confirmed by increased volume, to validate an upward move. Conversely, a breakdown below the support level may indicate further downside potential.
On the 12-hour timeframe, Dogecoin shows a significant buildup of liquidity above the current price. This suggests a potential upward move, as the market often gravitates toward such zones to trigger stop orders and capture liquidity. DOGE may push higher to sweep that upside liquidity.
Leverage: 5X
Targets:
1st TP 0.2223
2nd TP 0.2260
3rd TP 0.2365
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