Good evening, family of Shenwen. I'm here again to cheer for myself #$DOGE

Currently, Doge has broken the level in one hour; let's wait for a pullback and see how the market behaves next.

Below is my 1-hour analysis for your reference.

Take Profit Suggestions

• Conservative Target: 0.36453 (recent high), this is a short-term resistance level.

• Aggressive Target: If it breaks 0.36453, it can look to the range of 0.37209-0.38835, which needs to be accompanied by increased trading volume to confirm the effectiveness of the breakout.

Stop Loss Suggestions

• Short-term support is at 0.35545 (Bollinger middle band), it is recommended to set a stop loss below this level, for example, at 0.353.

• If the market experiences significant fluctuations, consider setting a stop loss near the lower support of 0.34287 (Bollinger lower band).

Technical Analysis

1. Bollinger Bands

• The current price is between the middle and upper bands, and there is still a possibility of testing the upper band (0.36803) upwards.

• Recent volatility has narrowed, and there may be a directional breakout ahead.

2. RSI Indicator

• RSI(6) = 53.29, which is neutral to strong, with a slight increase in momentum, but has not entered the overbought area.

• RSI(12) and RSI(24) are 56.35 and 52.64, respectively, indicating that there is still room for short-term upward movement, but beware of pullbacks.

3. MACD Indicator

• The DIF line and DEA line maintain a golden cross; although the momentum bars are shortening, the trend is still bullish.

• If the DIF line continues to rise, it can support further price increases.

4. Trading Volume

• There is no significant increase in trading volume yet; the effectiveness of the breakout needs to be observed with subsequent volume growth.

Strategy Suggestions

1. Bullish Strategy

• If the price stabilizes above 0.36000, it may moderately add positions, targeting 0.36453-0.37209.

• When breaking 0.37209 accompanied by increased volume, it can look up to 0.38835.

2. Bearish Strategy

• If the price drops below 0.35545, consider reducing positions or shorting, targeting 0.34287.

• If it further drops below 0.34081, proceed with caution to avoid widening losses. $DOGE