chart analysis @lunyoner



⸻



Chart Summary – DOGE/USDT (1D)



In the chart, Dogecoin price has tested a critical resistance area at 0.182. The price is signaling a clear exit from a horizontal consolidation area and has formed a bull flag-like formation. This breakout indicates a volume-supported breakout scenario.



⸻



Targets and Prices


• Short-term target:


• 0.22 – psychological resistance


• 0.26 – previous peak level


• Medium-term target:


• 0.30 – first major target (shown with the arrow in the chart)


• 0.36 – interim resistance level of the 2024 upward trend



⸻



Support – Resistance Levels


• Supports:


• 0.178 – breakout area


• 0.165 – buying area


• 0.148 – last dip, formation cancellation level


• Resistances:


• 0.20 – psychological threshold


• 0.26 – main resistance


• 0.30 – target level



⸻



Indicators


• RSI (1D): Above 55, may have entered an upward momentum


• EMA 20-50: EMAs may break upward, confirmation is needed


• Volume: Increase has begun, strong volume support is essential for a strong breakout



⸻



Formation and Formation Reversals


• Structure: Horizontal consolidation breakout / bull flag-like formation


• High probability of retracement to 0.178 level after the breakout (pullback)



⸻



Volume Status (4h – 1D – 1W)


• 4H: Strong candles after the breakout, volume is increasing


• 1D: Volume increase has started, will continue if confirmed


• 1W: Reversal formations are nearing completion, positive signal in the long term



⸻



Trend Direction


• In the short term: Up


• In the medium term: Positive outlook


• In the long term: There is an opportunity for an increase up to the 0.30 – 0.36 band



⸻



Road Map


1. 0.178 – 0.182: Breakout and retest area


2. 0.22: Interim target


3. 0.26: Critical resistance – profit-taking area


4. 0.30: Main target


5. 0.36: Long-term target for trend continuation



⸻



Strategy – Recommendation


• Buying area: Retest of 0.178 – 0.182 should be monitored


• Stop-loss: Daily close below 0.165


• TP1: 0.22


• TP2: 0.26


• TP3: 0.30 – main target area



⸻



Comment



This chart heralds a clear breakout. If the 0.178 area holds as support after breaking, a strong upward movement is quite likely. A volume-supported breakout has the potential to reach the target in a short time.


The likelihood of the start of an upward trend is quite high; should be monitored carefully.