DOGE volatility intensifies, key support locks in rebound opportunities! Stay steady, this wave can win!
$DOGE has been quite volatile recently, with back-and-forth movements between bulls and bears; it's more reliable to focus on major altcoins for swing trading. Dogecoin's performance has been relatively stable, after establishing solid support in the $0.19-$0.21 range, it began to gradually rebound after dropping several points. Technically, the short-term moving averages are close to the resistance level of $0.22, and the MACD green bars are shortening, indicating an increased probability of a rebound. Short-term bulls are actively testing, with trading volume mainly concentrated in the $0.205-$0.215 range, and the chips are starting to become active.
From the indicators, the RSI has also rebounded from a low position and has not entered the overbought zone, indicating that the downward momentum is temporarily easing, and the market is repairing the fluctuations. The Bollinger Bands are clearly narrowing, with a slight decrease in volatility, and the overall pattern still leans towards bullish fluctuations. As long as it can stabilize above $0.22, there is hope for a continued rebound in the short term, targeting resistance around $0.24-$0.25.
On the macro side, favorable factors support DOGE, with the Federal Reserve maintaining interest rates unchanged, expectations for interest rate cuts rising, and a more stable policy bringing some confidence to the market. The long-term holding ratio remains high, and the bullish foundation is still decent.
In terms of operations, aggressive friends can gradually buy in the $0.205-$0.21 range, and sell in batches in the $0.22-$0.24 range when prices rise, setting a risk point below $0.195. Conservative players are advised to wait for both price and volume confirmations before preparing to intervene. Recently, the volatility has been large, so it’s essential to maintain stop losses and avoid blindly chasing highs and cutting losses.
Overall, although $DOGE has experienced adjustments, the key support remains intact, and while bulls and bears are intertwined, the rebound momentum is gradually accumulating. As long as the key support is maintained, there’s still a chance for short-term swing rebounds. Stay steady, and fight again!
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The above content is for informational sharing only and does not constitute any investment advice!
