$DOGE has plunged nearly 10%, dropping from the critical $0.188 resistance area and printing a fresh low at $0.16800. Now trading near $0.17093, this breakdown on the 4-hour chart confirms strong bearish momentum โ with no meaningful recovery yet in sight.
๐ง Trade Setup (Short Bias)
Entry Zone: $0.17100 โ $0.17500
Target 1: $0.16250
Target 2: $0.15400
Target 3: $0.14700
Stop Loss: $0.17880
๐ Why Consider Shorting?
has broken down from a multi-day consolidation phase, losing its previous demand zone at $0.176. The sharp red candle, backed by strong volume, signals increased selling pressure. Any weak bounce toward $0.173โ$0.175 can offer another ideal shorting opportunity before a potential continuation to lower levels.
โ ๏ธ Risk Management Tip
Wait for confirmation before entry โ donโt chase red candles. Stick to your stop-loss plan, and consider scaling out profits at each target level to lock in gains.
Trade smart โ red trends donโt reverse with hope, they reverse with confirmation.
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