๐ช Current price:
DOGE is currently trading near the level of $0.2135, following a slight rise after a sharp decline last week, amidst significant market volatility and clear weakness in trading volume.
But remember what happened to it in 2024, as explained below this post.
๐ What is happening now?
The price is moving in the range of $0.206 โ $0.214 with strong resistance at $0.220 and weak support at $0.195.
Trading volume dropped by more than 20% despite the price increase, indicating weak upward momentum and the emergence of a potential buy trap.
The RSI indicator on the 4-hour timeframe shows an oversold condition, which may push the price for a short-term rebound.
๐ Is this a real rise? Or a trick before the drop?
Data indicates that DOGE has not yet received real liquidity support, despite recent whale movements. The recent rise may be a temporary bounce and not a sustainable upward wave.
๐ What happened to DOGE in 2024?
In 2024, DOGE witnessed several waves of media hype (especially from famous accounts like Elon Musk), during which it rose to around $0.23 โ $0.27 then quickly collapsed to levels of $0.12, due to loss of momentum and lack of an actual project supporting sustainable growth.
โ Lesson from 2024: Donโt follow the noise... but the analysis!
๐ฏ Current trading recommendations (for day trading):
Trade Entry Point ๐ฝ Buy (Calculated Risk) From $0.205 โ $0.208 Stop Loss โ Below $0.195 (e.g., $0.194) Take Profit ๐ฏ $0.218 first โ then $0.226
๐ง Golden advice from the financial maestro:
> "Donโt buy the dream... buy the truth behind the numbers, and trade with logic, not emotion!"
๐ Reminder: This is not financial advice, but technical analysis based on real dataโฆ Stick to risk management and always use stop loss.
๐ฌ What do you think about DOGE's movements? Do you see it ready to explode or for more correction?
Share your opinion โ๏ธ and take your place among analysts on the Binance Square platform ๐ฅ
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#FinancialMaestro | Binance Official Analyst ๐ฏ
