🧠 Advanced technical analysis for DOGE/USDT
🔹 Overall trend (Trend):
The overall trend has been bearish since the strong rejection that occurred near the 0.21 dollar levels.
A series of lower highs and lower lows has formed—a classic bearish signal.
🔹 Support and resistance:
Level Type Notes
0.150 Strong support Tested multiple times, a clear rebound occurred from it.
0.170 Current resistance The price failed to close above it twice.
0.185 - 0.190 Secondary resistance Was a previous support area, turned into resistance.
📉 Technical indicators (according to the displayed chart):
🔸 1. Candlestick Analysis:
The previous day's candle was a potential reversal candle (Doji / Shooting Star) near resistance.
The current candle is red, confirming selling pressure at 0.170.
🔸 2. Trading Volume:
There is an increase in volume at the lows, which may indicate accumulation or waning selling strength.
However, the decline in trading volume during the rise indicates that the recent rebound may be weak (corrective rebound).
🔸 3. RSI (Relative Strength Index) – My estimate:
Considering the movement, it is likely that RSI is in the 40-50 range, indicating a lack of strong bullish momentum yet.
🔸 4. MACD – My estimate:
It is likely that MACD is still below the zero line, but the lines have started to converge—crossovers may occur, but they are not confirmed yet.
📌 Possible scenarios:
📈 Positive scenario (Bullish):
A bullish break above 0.170 with a strong candle and daily close above it.
Confirmation of the breakout will lead to targeting:
🔹 0.185
🔹 Then 0.200
📉 Negative scenario (Bearish):
Continued rejection below 0.170 with increasing selling volume.
Breaking support at 0.160 will lead to testing: 🔻 0.150
🔻 Then 0.140 (a strong historical support area)
🧭 General recommendation:
It is not advisable to buy now unless there is a clear break above the 0.170 level.
Selling or entering a short position (if you are on a platform that supports it) is possible if there is another failure to break 0.170 with a tight stop loss above 0.172.
