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๐ DOGE/USDT 4H Technical Analysis โ Tradersโ Eye View ๐
DOGE is showing some very interesting price action right now on the 4H chart (Binance). Letโs break it down:
๐น Upper Resistance Zone: The chart highlights a strong resistance range around the $0.25โ$0.30 levels. Every time DOGE has tried to break through, it has faced heavy selling pressure. This zone remains a key battleground for bulls.
๐น Lower Zone Support: On the downside, DOGE has established a reliable support near the $0.20 mark. Buyers have consistently stepped in here, preventing deeper corrections.
๐น Current Price Action: DOGE is trading at $0.2213, consolidating in a descending wedge pattern. Historically, this setup often resolves with a bullish breakout โ but traders must watch closely for confirmation.
๐ Scenario 1 (Bullish): If DOGE breaks out above the wedge and holds above $0.23, momentum could push it back towards the upper resistance zone, targeting $0.25+.
๐ Scenario 2 (Bearish): Failure to hold $0.21 may drag DOGE back into the lower zone support, testing buyer strength once again.
๐ Traderโs Tip: Patience is key here! Wait for clear breakout confirmation before entering. Managing risk with stop-losses below the lower zone is highly recommended.
โก Final Thoughts: DOGE is coiling up for its next big move. The chart suggests a bullish push is possible, but always stay prepared for sudden reversals. Keep eyes on the wedge breakout โ this will likely set the tone for Septemberโs trend.
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Best of luck ๐ค ๐ ๐ค