DOGE/USDT QUICK ANALYSIS – WAIT FOR TREND REVERSAL?
On the 1H chart, DOGE/USDT is trading around $0.1348, down 3.3% in 24 hours.
1. Bollinger Bands: Price is moving near the lower band and is showing signs of a slight recovery towards the average. The price is likely to continue fluctuating within this Bollinger band.
2. MACD: The MACD indicator shows signs of weakening bearish momentum as the histogram bars narrow. Need to wait for confirmation if there are signs of reversal.
3. Stochastic RSI: Currently at overbought levels with a reading of 92, which could signal an upcoming short-term correction.
Strategy: Traders should wait for a clearer reversal signal from MACD and watch the support zone at 0.1277 USD.$DOGE