Family, recently the market for Dogecoin (DOGE) has been quite remarkable, so today let's have a good chat about its price fluctuations.
First, looking at the short-term technicals, Dogecoin has broken through the key price level of $0.25050, which means it has successfully broken the recent strong resistance range of $0.2483 - $0.25. From this point, we can see that the bullish momentum is particularly strong, and the short-term upward potential has opened up. If Dogecoin can firmly stay above $0.25, the next target can be set at $0.28 - $0.30, which is the target for the megaphone pattern.
Now let's talk about the bull-bear divide, $0.22 is the boundary for short-term strength and weakness. If Dogecoin's price falls below this support level, it is likely to pull back to the range of $0.18 - $0.20. So this price level must be closely monitored as it is crucial for judging subsequent trends.
Here I also want to remind everyone that the Relative Strength Index (RSI) is approaching the overbought zone at nearly 70, so we need to be cautious about the risk of a pullback triggered by short-term profit-taking. Once it enters the overbought zone, it indicates that Dogecoin's price has risen quite sharply in the short term, accumulating a considerable amount of profit-taking, which may lead to concentrated selling in the short term and result in a price drop.
My operational guide today is to short around $0.25300 - $0.24900, initially aiming for $0.24350. If the downtrend continues, we can look towards $0.23700. However, everyone must remember that the Dogecoin market is currently experiencing intense bull-bear competition, and strict risk control is the key to sustained profits. When investing in Dogecoin, always operate according to your risk tolerance, and never blindly follow the trend, or you might easily lose all your capital. #DOGE