From the perspective of the 4-hour candlestick structure, DOGE is still in a consolidation bottoming phase. Although the bears have not retreated, the bulls are repeatedly testing the bottom area. Today is a critical moment to observe whether the 'turning point signal' can appear.
Technical Structure Analysis
Trend Structure:
After a retreat from the high of 0.25439, DOGE has entered a clear correction period, with the 4-hour chart continuously showing bearish candles and the price consistently trading below the MA20.
The current Bollinger Bands are showing a contraction, indicating that a decision-making phase may occur in the short term.
Several short-term moving averages are intertwined, with the price constrained in the 0.228-0.230 area above, and rebounds are continuously facing resistance.
Support below:
0.221 is a short-term support level that has been tested several times recently without being broken. If it fails, it will test the 0.218-0.215 area (middle and lower bands).
Although the MACD is still in the death cross zone, the green bars are shortening. If there is a volume increase today, a technical correction may be on the horizon.
Resistance above:
The first resistance is at 0.228-0.230, which is the middle band of the Bollinger Bands and a dense resistance zone of moving averages;
The second resistance is at 0.236, which combines the previous high and the upper band of the Bollinger Bands, serving as an ideal target for the bulls.
My optimistic scenario: After consolidation, a slight upward rebound, with bulls repeatedly testing the bottom, indicating potential short-term upward momentum.
[Operational Strategy Suggestion]
Current Price: 0.224
First target: 0.228 Second target: 0.236 Stop-loss level: 0.219
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