Let’s analyze the chart on the Binance platform for Doge/USDT as follows:
🧠 Simplified technical analysis of the chart
⏰ Timeframe:
The chart displays candles on a 15-minute interval, meaning each candle represents 15 minutes.
📉 General trend:
The current trend is clearly downward.
There is a series of descending peaks and troughs, indicating strong selling pressure.
📏 Moving averages (MA):
MA(5) in yellow
MA(10) in pink
MA(25) in purple
Notes:
All moving averages indicate a downward trend (their order: short below long).
The price is currently trying to slightly bounce from the bottom of 0.18555 to 0.19244.
✅ Current technical signals:
The price has bounced from a local bottom of 0.18555.
There is an attempt to break MA(5) and MA(10) upwards, which is an early attempt to reverse the trend.
We need to confirm this bounce by crossing the price above the longer MA(25).
🔍 Important areas:
Nearby support: 0.18555 (the price bounced from it)
Nearby resistance: 0.203 (where MA25 intersects)
🎯 Conclusion:
The market is in a downturn, but there is an early recovery signal.
It is not recommended to enter a buy trade now unless:
The price has settled above MA(25)
High trading volumes have emerged supporting
We can monitor the re-test of the level 0.18555, and if it does not break, we can consider a short-term buy aiming for 0.20.
