Xuxu Baby's Dogecoin Morning Market Analysis on August 9

Trend Judgment

Recently, the price of Dogecoin has shown a certain upward momentum amidst fluctuations, but the short-term upward momentum has weakened, and the battle between bulls and bears is intense, with direction currently unclear. From a technical indicator perspective, the daily MACD red bars have shortened, indicating a reduction in bullish strength; the KDJ indicator is hovering near the overbought area, suggesting a risk of pullback. However, the overall trend at the weekly level still leans towards the upside, and the long-term trend still has certain potential.

Support Levels

- First Support Level: 0.195. This is the low point reached during recent pullbacks, forming a certain support foundation. If the price falls back to this level, bulls may attempt to resist.

- Second Support Level: 0.186. This position corresponds to the hourly moving average support and is also a key point that has been tested multiple times. If 0.195 is broken, this price level will become an important defense line.

Resistance Levels

- First Resistance Level: 0.210. This is the high point of the previous rebound, where a large number of trapped positions are concentrated, forming strong resistance.

- Second Resistance Level: 0.220. This price level is a key psychological barrier and technical resistance level. If it can break through, it is expected to open up new upward space.

Strategy Suggestions

- Bullish Strategy: If the price pulls back to around 0.195 and finds support, a small long position may be taken, with a stop loss set at 0.192 and a target aimed at 0.210. If it breaks through 0.210, an appropriate increase in position can be made, looking towards 0.220.

- Bearish Strategy: If the price rebounds to around 0.210 and encounters resistance, a small short position may be taken, with a stop loss set at 0.213 and a target aimed at 0.202. If it breaks below 0.195, shorting can be pursued, looking towards 0.186.

The price fluctuations of Dogecoin are significantly influenced by market sentiment, news, and large holder operations, posing high risks. It is essential to strictly set stop losses during operations, control positions well, and avoid blindly following trends. The above analysis is for reference only and does not constitute investment advice. #DOGE #美联储比特币储备 #特朗普允许401(k)投资加密货币 #美国加征关税 #特朗普加密新政