Family, today Brother Hao is here to discuss the latest market analysis of Dogecoin (DOGE), based on the latest market data, combined with technical indicators, on-chain data, and market sentiment among other multidimensional information. Please listen carefully.
First, let's talk about the distribution of resistance and support. There are several key resistance and support levels that we must clarify. In terms of core resistance, the range of $0.243 - $0.2457 is a strong resistance area that has been tested multiple times recently without a breakthrough. If one day it breaks out with substantial volume, it could trigger a rapid increase, with a short-term target range of about $0.25 - $0.255. Looking further up, the Fibonacci 38.2% retracement level at $0.255 is also critical; once it breaks, it might open up upward space, targeting $0.28 - $0.30.
As for the support level, $0.235 is an immediate psychological support, and this level is very important. If the price stabilizes around here, the bulls still have a chance. Further down, the range of $0.220 - $0.213 is the dividing line between bulls and bears. If it falls below this, the situation could become unfavorable and may trigger a deeper correction, with a target range of $0.194 - $0.188, which is the Fibonacci 76.4% retracement level.
Next, let's talk about the operational strategy. For bulls, if Dogecoin retraces to the $0.235 - $0.222 support zone and shows a decrease in volume with a stop in decline, then it can be laid out in batches. The initial target is $0.245, and after breaking through, we will look at $0.255. If it breaks $0.2457, then you can add positions, but remember to set the stop loss below $0.235 to manage risk.
My strategy today is to continue to be bullish around $0.23800, with the initial target at $0.24320, and after breaking through, we'll look towards $0.25000.