Did you understand this wave of operations with DOGE?
The bulls are firmly holding the defense line at $0.1578. The early morning plunge from $0.168 to $0.157 was clearly a 'false breakout' attempt by the bears, but they were pushed back by the bulls with real capital!
Now the price is stuck between two moving averages ($0.16179), caught in a bind like a sandwich, but looking closely at the trading volume: there was no follow-up selling during the drop, and the volume quietly increased during the rebound, indicating that the bears are losing strength, and the bulls are quietly accumulating!
From a technical perspective, although the MACD is still hovering at a low level, the red bars have noticeably shortened, and it could flip to bullish at any time!
I personally feel that the bulls are testing the waters. The previous high at $0.168 will definitely be contested repeatedly, but the support at $0.157 has already formed a solid bottom, and this rebound may not be over yet!
Now keep an eye on the contest for the $0.161 moving average. If it stabilizes, it can push towards the previous high. If it drops below $0.157 again, you might as well stop paying attention to this coin!
If you're unsure and always chasing the ups and downs, feel free to chat with me. Like + comment, and Tiger Brother will help you get on board.