According to technical analysis;
With DOGE soaring to $0.38878, it’s clear the bulls have taken charge, driving strong momentum. Let’s look at what the next six hours might bring based on current technical signals and market sentiment.
Current Technical Analysis:
1. Indicators & Momentum:
RSI: The RSI on the 1-hour chart is likely in overbought territory, signaling that DOGE could be primed for a cooling-off period. This high level often suggests that buyers are momentarily maxed out.
EMA (20 and 50): With the shorter EMA line still leading above the longer one, this upward momentum remains intact. However, a pullback to the 20 EMA could allow the trend to catch its breath without breaking the uptrend.
2. Support & Resistance Levels:
Resistance: Around $0.40 - This level just above the current price will be the first test for DOGE if it continues climbing.
Support: Around $0.3369 - If DOGE dips, this level might be where buyers look to reenter, giving the bulls a chance to recharge.
3. Whale Activity:
Large holders are still active, but there seems to be some hesitation at these high prices. A few sell orders may be placed above $0.39, suggesting that whales could be taking partial profits and may wait for a pullback before making their next big move.
Next Move - Prediction:
Scenario 1: Push Higher
If DOGE can break above $0.40 with strong volume, it may continue this rally and could test even higher levels, potentially sparking renewed buying interest and creating more upward momentum.
Scenario 2: Brief Pullback
Given the overbought RSI and signs of profit-taking, a dip back to around $0.3369 is possible. This would allow DOGE to consolidate before making its next move up, giving traders a chance to reenter.
Best Trade Setup:
Short-Term Trade (6 hours):
If DOGE struggles at the $0.40 resistance and shows signs of stalling, a short position targeting a retracement to $0.3369 could be a smart play.
On the other hand, if DOGE pulls back to $0.3369 and finds support, this could be an entry opportunity for a long position targeting another push towards $0.40 or higher.
Bottom Line:
DOGE is on an impressive run, but it’s approaching critical levels. If it breaks $0.40, we could see a new leg up. However, a short-term pullback to around $0.3369 is likely if buyers pause to take profits. The next six hours are pivotal – whether you’re watching for a breakout or a pullback, this is a thrilling moment for DOGE traders!
- See now....👉$DOGE 👇
- Follow for more.....
