Trade Signal: $DOGE Update – Bullish Momentum Building
DOGE/USDT is currently trading at $0.22585, up +2.56% in the last 24 hours, showing signs of a potential breakout.
The price has crossed above the 99 MA (0.22405) and is being supported by the 7 MA (0.22621), indicating a short-term bullish trend.
Volume spikes and a rebound from the 0.21567 support suggest strong buying interest at lower levels.
The 30-minute chart shows a successful reversal from the local bottom, forming a potential higher low pattern.
Entry for Long: $0.226 - $0.228 | Target: $0.235 - $0.240 | Stop Loss: $0.222
Entry for Short: If price rejects at $0.2303 resistance | Target: $0.217 | Stop Loss: $0.233
Risk management is crucial: watch for a break below the 25 MA (0.22722) which could signal bearish reversal.
Volume MA(10) and MA(5) indicate increased activity, supporting bullish bias in the short term.
Momentum is supported by the past 30-day gain of +24.55%, aligning with the trend continuation hypothesis.
Trade cautiously and monitor price action near key levels for confirmation before entry.
