“$DOGE The sharp decline is not alarming! The key support remains intact, and $0.28 becomes the critical line for a turnaround!”
Recently, the price of DOGE has retraced from the resistance level of $0.3 to around $0.23, attracting market attention. A close examination of the charts and trading volume reveals that this decline is not a chaotic crash, but rather a natural adjustment from a technical perspective.
Technical Analysis
Stable Support: The price has pulled back to near the 50-day moving average, and multiple tests indicate that this moving average still has support, as historically DOGE has rebounded at this position multiple times.
Volume Changes: Despite consecutive red candlesticks, trading volume is sluggish, indicating that there is no panic selling in the market, and selling pressure is relatively limited.
Trend Indicators:
The RSI indicator is currently around 45, in a neutral range, neither overbought nor oversold, which is favorable for a rebound.
The long-term trend remains stable, with the price not breaking below the 200-day moving average, indicating that medium to long-term capital and market sentiment are still intact.
Potential Bullish Signals
The lows of the decline are showing a gradually rising trend, indicating that there is capital continuously supporting the price.
The neutral RSI range provides an opportunity for a rebound, and the short-term entry risk is controllable.
The long-term moving average support is solid, providing a foundation for future price increases.
Key Resistance and Operational Reference
$0.28 is an important resistance level recently; if broken, it will facilitate further challenges to $0.3 or even $0.32.
If it breaks below the 50-day moving average, it may test $0.2, but considering DOGE's long-term market popularity and favorable ETF news, the probability is relatively low.
Conclusion
The recent adjustment of DOGE is a technical correction, and the long-term trend remains resilient. Investors should pay attention to the support situation near the 50-day moving average, and short-term strategies can consider buying on dips, but chasing highs is not advisable. Medium to long-term holders can remain on the sidelines, waiting for the price to stabilize at key support before making decisions.
$BLESS $SFP #狗狗币ETF进展 #永续合约DEX赛道之争 #山寨币战略储备
