Dogecoin at $0.402: Sit, Stay, or Fetch the Moon?

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Dogecoin is currently trading around a key support level at $0.40, with the market poised for its next major move. This level will likely play a crucial role in determining the short-term trend, as the balance between buyers and sellers tightens.

1. A dip toward $0.394 followed by a strong recovery could signal that bullish sentiment remains intact, with buyers likely targeting higher resistance level (Dashed Green Projection).
   
2. A break above the $0.432 mark would confirm a shift in momentum, opening the door to further upside toward the critical resistance at $0.485 and possibly beyond (Solid Green Projection).
   
3. Conversely, a failure to hold the $0.394 support may indicate weakness, increasing the probability of a deeper decline. In this case, the next significant support lies around $0.374, and a breach of this zone could accelerate bearish pressure, pushing prices closer to $0.342 (Red Projection).
   

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تم فتح الصفقة

Dogecoin is still lingering around $0.394, the key support in the 4-Hour chart. We need to see a bullish momentum from the current price location (Scenario 1 above) that will push price for re-test of $0.43, the next key intraday resistance. An inability to sustain price action above $0.394 will lead to more bearishness with rapid decline toward $0.374 and, possibly, lower.

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ملاحظة

There is no much change in the Doge price chart. Please mind that between $0.394 and $0.43 is the range zone where the price action will be slow and choppy. We need to see a bullish momentum to the top of this range zone.

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ملاحظة

Doge has turned bearish on the 4-hour chart, triggering Scenario 3 (Red Projection above). The price action will be crucial in the next few hours. The next support is at $0.374, but the key support lies at the $0.342 zone, where a strong reaction is expected. A dip to this critical support could present a potential long opportunity.

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أغلقت الصفقة: تم الوصول للهدف

Yesterday, we saw Scenario 3 (red projection) unfolding with $0.342 target reached.