🚨 DOGE Coin in Correction Phase: Patience Required for Entry! 🚨
As we analyze $DOGE coin’s market performance, it’s clear that it is currently undergoing a complete correction phase on the weekly chart. This indicates that after a strong rally, the price is pulling back, which is a normal phase in any bullish cycle. The weekly chart is showing bearish pressure at the moment, and the coin might take some time to find solid support before resuming any significant upward momentum.
🔍 Looking at the 4H Time Frame 🔍
In the shorter 4-hour time frame, DOGE is still in a downtrend. The price continues to make lower highs and lower lows, signaling ongoing bearish sentiment. This downtrend suggests that we could see more price fluctuations before any potential reversal.
⚠️ What to do now? ⚠️
At this point, it’s crucial to wait for confirmation before considering any entry. Don’t rush in—look for signs of a trend reversal or stabilization.
Key things to watch out for include:
A break above recent resistance levels. Bullish indicators such as higher lows and strong support levels. Potential divergence between price and momentum indicators like RSI.
Stay patient and observe the market closely. Timing is everything, and entering too early in a downtrend can lead to unnecessary losses. 📉💡
Conclusion: DOGE is in a correction phase on the weekly chart and still showing bearish signals in the 4H time frame. Wait for confirmation before considering any trades—this will help you avoid catching a falling knife. ⏳💰
