Dogecoin is showing potential bullish momentum on both the daily (D1) and 4-hour (H4) time frames, creating opportunities for traders to capitalize on short-term and swing trades.
Daily Time Frame (D1): Potential Upside Toward Key Resistance
Dogecoin recently closed on a strong bullish note, moving from the 0.10400 region and surpassing the 0.10960 level. This surge points toward possible further gains, with the next target being the 0.13700 resistance, aligning with the 200 Simple Moving Average (SMA). The bullish crossover between the 5 SMA and 20 SMA at 0.10082 strengthens the case for continued upside momentum.
Key Levels to Watch:
Entry Point: 0.10085
Take Profit: 0.13700
Stop Loss: 0.09850
This swing trade setup provides a favorable risk-to-reward ratio for traders anticipating more gains.
4-Hour Time Frame (H4): Short-Term Opportunities
On the H4 chart, Dogecoin also exhibits bullish signals, with the 20 SMA positioned at 0.11150, a previously tested resistance. The 5 SMA recently crossed above the 200 SMA near 0.10120, further indicating short-term bullish momentum. Traders may look to target the 0.11550 resistance for quicker trades.
Key Levels for Day Traders:
Entry Point: 0.10150
Take Profit: 0.11550
Stop Loss: 0.09810
Overall, Dogecoin seems positioned for an upward move, though careful attention to market sentiment and technical indicators is essential. Will the bullish run continue, or will a pullback toward 0.09810 occur? Letâs discuss!
