DOGE/USDT Technical Analysis - Based on the attached image
Key Data:
- Current Price: 0.32436 USDT (+1.77% in the last 24h)
- Volume (24h): 302.55M
- Immediate Resistance: 0.35000 USDT
- Immediate Support: 0.31500 USDT
Technical Analysis:
1. Short-Term Trend:
- The price is up 1.77% in the last 24h, indicating positive momentum.
- The volume of 302.55M suggests growing interest, but still below historical highs.
2. Key Levels:
- Resistance: 0.35000 USDT (a breakout could lead to tests of 0.45000 USDT).
- Support: 0.31500 USDT (a breakout could lead to 0.30000 USDT).
3. Indicators:
- SMA Volume: Average volume is stable, but with no signs of strong accumulation.
- Order Book: 52.77% of orders are sell (ask), indicating upcoming selling pressure.
4. Recent Performance:
- 7 Days: -3.01% (recent correction).
- 90 Days: +86.19% (medium-term uptrend).
- 180 Days: +166.94% (strong long-term rally).
Possible Scenarios:
1. Bullish:
- If the price breaks 0.35000 USDT with high volume, it could target 0.45000 USDT.
- Confirmation of support at 0.31500 USDT is crucial to maintain the uptrend.
2. Bearish:
- If the price loses 0.31500 USDT, it may fall to 0.30000 USDT, with possible acceleration of the sell-off.
Conclusion:
DOGE/USDT is at a decision point, with selling pressure close, but with potential for growth if it breaks the resistance of 0.35000 USDT. Traders should monitor volume and support/resistance levels to confirm the direction of the next move.
Warning: DOGE is highly volatile and influenced by news and social media. Trade with risk management.