📌 Entry Zone:
🔹 0.17500 - 0.17800
🎯 Targets:
✅ First Target: 0.18400
✅ Second Target: 0.19000
✅ Third Target: 0.19300
🛑 Stop Loss:
🔻 0.16900
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📊 Technical Analysis:
🔸 RSI (6) = 44.14 – In the neutral zone, indicating that there is room for upward movement before reaching overbought.
🔸 MACD = -0.00007 – Slight negative crossover, but close to the zero line, indicating a potential quick reversal if buyers enter.
🔸 The price is currently in a strong horizontal support zone around 0.17800, which has held previously.
🔸 Trading volume is slightly low, indicating hesitation in the market; we need an increase in volume to confirm the upward trend.
🔸 Positive news: 21Shares' submission of an ETF application for Dogecoin boosts long-term confidence.
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📢 Risk Management:
✔️ Take a portion of profits at each target to ensure profit protection.
✔️ In case of breaching 0.18400, we may see new momentum pushing the price towards 0.19300.
✔️ A break below 0.16900 weakens the bullish scenario.
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My Opinion:
Dogecoin is in a consolidation phase with strong support at 0.17500, and if 0.18400 is breached with support from positive news (the ETF), we may see a swift move towards 0.19+. But be sure to stick to capital management and stop-loss.
Are you thinking of entering now? Share your opinion with me!