DOGE DOGE DOGE

 1-day DOGE/USDT chart (data for 2025/05/16), here’s the analysis and trading plan for the next 2 days:

Key Observations:

Price Action:

Close: 0.22766 (+3.77% daily).

High/Low: 0.23013 / 0.21797 (amplitude: 5.54%), showing strong volatility.

MA(50): 0.17780 (price is well above, indicating a bullish trend).

RSI(6): 59.36 (approaching overbought but not extreme, leaving room for upside).

Chart Structure:

Immediate Resistance: 0.23013 (today’s high).

Next Resistance: 0.25870 (swing high).

Support: 0.21797 (today’s low) → 0.20000 (psychological level).

Trading Strategy for Next 2 Days:

Scenario 1: Bullish Continuation

If price breaks above 0.23013 (today’s high):

Entry: Retest of 0.23000–0.23200 with volume confirmation.

Target: 0.25870 (next resistance).

Stop Loss: Below 0.21797 (today’s low).

Scenario 2: Pullback or Consolidation

If price rejects 0.23013 and dips:

Buy Zone: 0.21797–0.20000 (support area).

Target: Rebound to 0.23000+.

Stop Loss: Below 0.19500 (strong support break).

Risk Management:

Use ≤2% risk per trade.

Partial profits at 0.24000 and 0.25000 if bullish.

Key Indicators to Watch:

RSI(6): A spike above 70 may signal overbought conditions (scalp shorts).

Volume: Declining volume on rallies = weak momentum.

MA(50): Acts as dynamic support in pullbacks (0.17780).

Note: DOGE is volatile—adjust positions if Bitcoin or macro trends shift.

Summary:

Bias: Mild bullish, but wait for confirmation above 0.23013 or dip to support.

Avoid chasing pumps—trade key levels with strict stops.