$DOGE Dogecoin’s recent upward move appears to have been driven primarily to sweep liquidity on the 4-hour timeframe. Once that liquidity was taken, the price resumed its downtrend. Looking at lower timeframes: On the 5-minute chart, there is notable liquidity around $0.10142 On the 30-minute timeframe, around $0.09320 On the 1-hour timeframe, around $0.09921 and $0.09538 On the 4-hour timeframe, around $0.08831 Based on this structure, traders should mentally prepare for a potential continuation of bearish (sell-side) sentiment.
$DOGE At last, the buying has begun. A position has been entered with cautious optimism—now let’s see how far the move can go. A stop loss has been set at 0.13950 to manage risk and protect capital if the market moves against the trade.
$DOGE Although Dogecoin is currently in a buy zone, it is also in an overbought area on the 30-minute timeframe and is positioned within a previous sell order block zone. Under such circumstances, a sell-off is likely unless a big-volume bullish (buy) candle appears.
$DOGE For the past 16 hours, the market has been stuck in the same range and hasn’t been able to break above 0.18308, even though, according to the 4-hour AlphaTrend candle, the minimum target is 0.19032. However, since the market is currently in the overbought zone on the 30-minute timeframe, it may experience a slight pullback.