10.31 Tao Ge Talks DOGE
DOGE is currently oscillating in the range of 0.19000-0.20000, down about 4% in the last 24 hours, but the market still has expectations for its performance in the fourth quarter. Notably, since the significant drop on October 10, DOGE has shown strong resistance to decline, with a year-to-date increase of 43%, making it the only asset among mainstream meme coins to maintain a positive annual return.
Technical Analysis
- Key Support and Resistance Levels:
Support levels to watch are 0.19500, 0.17580, 0.17000, and 0.16500, with 0.17580 being an important short-term defense level;
Resistance levels to focus on are 0.22000, 0.22500, 0.23200, 0.25000, and 0.27000, with 0.22000 being a key target for short-term rebound.
- Technical Indicator Signals:
The RSI indicator is at 44.45, and the MACD is recorded at -68.13, indicating a weak market but potential momentum is building;
The MACD on the 4-hour level is in the bullish zone but showing decreasing momentum, and the RSI continues to run below the 50 level;
The Bollinger Bands are in a contracting state, indicating that the market is in a window for a trend change, with a directional choice approaching.
Operational Reference
In the short term, key support levels to focus on are in the range of 0.17750-0.18000. If stability is achieved here, an attempt to go long can be made, with initial targets set at 0.18300, and further targets at 0.18700 after a breakout. The risk increases during the trend change phase, so operations need to be strictly controlled, with proper profit-taking and stop-loss measures in place. $DOGE
