$DOGE Price Update: Healthy Correction or Bearish Signal? 📉🐕
Looking at the recent 1-hour chart of DOGE/USDT on Binance, we are seeing some very interesting price action. After a solid bullish run-up to the 0.117 level, the price has pulled back and is currently trading around 0.107.
Here is a quick breakdown of what the chart is telling us:
1. The Resistance Rejection:
DOGE faced a strong rejection near the $0.11759 mark (24h High). This suggests that sellers are active at higher levels, preventing an immediate breakout.
2. Support Level to Watch:
The price is currently hovering near a local support zone. If DOGE can hold the 0.104 - 0.105 area (near the 24h Low), we might see a "Higher Low" formation, which is usually a bullish sign for the next leg up.
3. Volume Analysis:
With a 24h volume of 1.39B USDT, liquidity is high. This means the current dip is being monitored closely by both scalpers and long-term holders.
My Take: This looks like a standard "Cool-off" period after a pump. As long as it stays above the $0.105 support, the overall structure remains intact. However, a break below that could lead to a deeper retest of the $0.100 psychological level.
What’s your move?
Are you buying this dip, or waiting for a confirmed reversal? Let me know your strategy in the comments! 👇
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