$DOGE /USDT Analysis: Testing Crucial Support
$DOGE is trading at $0.34372, down 4.31% in the last 24 hours. It is hovering near its 24-hour low of $0.33863 after failing to sustain upward momentum at $0.38663. RSI at 35.16 suggests oversold conditions, while MACD remains bearish with weak momentum.
Key Levels to Watch
Resistance:
$0.35671: Immediate resistance; a breakout above could signal recovery.
$0.37712: Key barrier for a bullish trend reversal.
Support:
$0.33863: Critical support; losing this may lead to further declines.
$0.32000: Next major support zone.
Trade Setup
For Longs:
Entry: Near $0.34500.
Targets: $0.35671 and $0.37712.
Stop-loss: Below $0.33500.
For Shorts:
Entry: Around $0.35671 if rejected.
Targets: $0.33863 and $0.32000.
Stop-loss: Above $0.36500.
Market Insight
DOGE is under pressure but approaching strong support levels that could spark a rebound. Watch for RSI recovery and volume increases to confirm bullish sentiment. Failure to hold $0.33863 may attract further selling, pushing prices to lower support zones.