Family, Brother Yang is here to talk about tonight's DOGE (Dogecoin) market! From a short-term perspective, the MACD histogram indicates that the bullish strength is growing, but the KDJ indicator is in an oversold state, which is a bit contradictory. Moreover, the trading volume continues to decrease; although the price is rising, the lack of volume indicates that the upward momentum is weakening, which is not a good sign. The key resistance level is in the range of $0.24 - $0.25. If it can't break through, there may be trouble ahead.
Market sentiment is also very divided. Most traders are optimistic and believe there is still room for growth, but professional models are more cautious. For instance, well-known trader James Wynn has recently faced multiple losses and liquidations on DOGE, indicating how volatile the market can be.
Looking at the macro environment, U.S. stocks opened low but rose, with most tech stocks increasing, which is favorable for risk assets. However, Hong Kong stocks are down, and the Asian market's performance is not great, which brings some uncertainty.
Overall, tonight, the downside risk for DOGE is greater, but it is currently in an oversold state, which may trigger a technical rebound. Everyone should closely monitor the capital flow after the U.S. stock market opens, as well as the dynamics of large on-chain transfers, as these are crucial for assessing the market.
In terms of operations, Brother Yang suggests shorting near $0.22000 - $0.22300, with the initial target at $0.21600 and then further down to around $0.21000. However, it is essential to base actions on actual market conditions, as the market is volatile, and everyone must be cautious! #Doge🚀🚀🚀