DOGE intraday market analysis and forecast (November 18, 2024)

Current market overview

According to the latest market data, DOGE is currently trading at $0.3720, with an intraday range of $0.3489 to $0.3747. The trading volume remains active, with a 24-hour trading volume of about $1.24 billion, indicating that market sentiment tends to be cautiously optimistic  .

Technical analysis and key points

1. Resistance level: $0.3747 (recent high), if it breaks through this point, it may test $0.3800.

2. Support level: $0.3489 (intraday low), if it falls below, the next support level may be $0.3400.

3. Technical indicators:

• Moving average system: Short-term moving averages (5-day and 10-day) are both bullish, indicating upward momentum.

• RSI (Relative Strength Index): Currently at 63, close to the overbought range, be alert to the risk of short-term pullback.

• MACD: The main line is above the zero axis, indicating that the bullish trend is dominant.

Contract short-term T strategy

1. Long strategy:

• Entry point: $0.3600 (if it pulls back to this level).

• Stop loss point: $0.3480.

• Take profit point: $0.3745.

• Leverage recommendation: 3-5 times.

• Risk warning: If the price breaks through the resistance level, it is recommended to respond with a batch increase strategy.

2. Short strategy:

• Entry point: $0.3745 (failed to test resistance).

• Stop loss point: $0.3800.

• Take profit point: $0.3600.

• Leverage recommendation: 3-5 times.

• Risk warning: If market sentiment suddenly turns strong, stop loss quickly to control risks.

Comprehensive suggestions

In the short term, DOGE may continue to fluctuate upward, but we need to pay close attention to resistance levels and changes in market sentiment. If it breaks through key resistance levels, it may trigger a new round of gains; if it fails to stabilize, a pullback may become an opportunity for short-term traders.

The above strategy is suitable for high-frequency short-term traders. Please strictly set stop losses and control risks, and be cautious in dealing with volatility. $DOGE