Dogecoin is currently testing a key demand zone around 0.21635 – 0.21500, where multiple rejections suggest strong buyer interest. The price bounced off this zone with bullish momentum, indicating a possible reversal setup.
Chart Highlights:
Demand Zone: 0.21500–0.21635 (marked in orange) – Strong buying interest seen here multiple times.
Current Price: 0.21878 (+0.44%) – Beginning a potential breakout move.
Resistance Levels to Watch:
0.22320 – Minor intraday resistance
0.22894 – Major supply zone (blue shaded area), previous rejection area
Bullish Signal: Bullish engulfing near support with increased volume, signaling possible continuation upward.
What to Expect:
A break above 0.22320 could push DOGE to retest the supply zone at 0.22894.
Conservative entry: on retest of 0.21635 with confirmation.
Aggressive entry: current price with a stop below 0.21500.
Trade Idea:
> Long Entry: Above 0.21900
Stop Loss: 0.21450
Take Profit 1: 0.22320
Take Profit 2: 0.22890
Bonus Tip: Watch the volume – increasing buying pressure could confirm this reversal. Break and close above the blue zone would indicate a shift in market structure.
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