📊 Analysis of DOGE/USDT Price Movement from the Chart
1. General Trend
The trend on the visible timeframe is clearly bearish.
The consecutive red candles with high trading volumes indicate strong selling pressure.
The price is moving below all major moving averages (MA7 – MA25 – MA99).
2. Supports and Resistances
Nearest support: 0.2180 – a critical level, breaking it may open the way for a drop towards 0.2100.
Nearest resistance: 0.2290 – breaking it with good trading volume may indicate a short upward rebound.
Higher resistance: 0.2365.
3. Technical Indicators
The short moving average MA(7) is below the long MA(25) and MA(99) → a bearish signal.
Trading volumes are high in the red candles, indicating that sellers are in control.
There is currently no clear reversal pattern, but approaching support may create a corrective movement.
4. Potential Scenarios
🔻 Bearish Scenario
Breaking the 0.2180 level with a clear close → targeting 0.2100 then 0.2050.
🔼 Bullish Scenario (Rebound)
Rebounding from 0.2180 and breaking 0.2290 with a close → targeting 0.2365.
5. Conclusion
The market is currently in a dangerous area for both sellers and buyers, as we are close to strong support.
If the support breaks, the drop will continue.
If the support holds and the price rebounds, we may see a short upward wave.