Bearish Killing Field! $DOGE Warning of a 2% Plummet in One Hour!
Based on this one-hour K-line chart of DOGE, I personally feel that the short-term market is a bit precarious, with the price dropping to 0.17614, down more than 2%. The market opened high but fell low in the early session, with not much fluctuation during the day, but bears are clearly dominating.
The MA5 and MA10 are pressing down, and the trend is bearish. The MACD is stuck below the zero axis with green bars shortening, indicating that bearish momentum is weakening, but no golden cross has formed.
The KDJ is oversold, fluctuating around a J value of 21. If the price can stabilize above MA5, there may be a chance for a rebound.
The trading volume has shrunk to 42.4M, and the market is quiet as everyone is watching. The key is to hold the support level of 0.168.
If it breaks below, it may slide directly to 0.165, posing a significant risk for bottom-fishing. Conversely, if it can break above MA5 with increased volume, there may be an opportunity to test 0.18. It is recommended to take light positions and avoid holding onto losing trades; strict stop-losses are essential to control risk and prioritize safety.
Although the overall market is slightly sluggish now, opportunities will still arise. Stay calm and wait for a pullback; feel free to discuss future market perspectives anytime.