While $ETH has already reached 4300, Dogecoin is still languishing between 0.20 and 0.22. It nearly fell below 0.2 in August, but whales recently bought 1 billion coins. While open interest has dropped by 40%, there are signs of capital inflows.
Technically, the 4-hour RSI has repeatedly fallen below 30, indicating oversold conditions. Historically, similar monthly increases of 70% have occurred. A break above 0.22 could potentially push the price to 0.3-0.34. However, August was a traditionally weak month, with $DOGE . Furthermore, a break below 120,000 or negative CPI news could drag down the market.
Strategically, invest in batches between 0.19 and 0.20, with a stop-loss below 0.175. Increase your position if it breaks through 0.22, aiming for a target above 0.3. It's recommended to use low-multiple contracts for quick entry and exit, strictly adhere to stop-loss orders, and monitor whether Ethereum can maintain its position above 4000.
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