another correct prediction by yours truly, $doge broke trough our target ! what's next ? is it still goin up or the momentum will be reversed ? let's dive in !
Technical analysis on the 1-hour chart indicates a strong bullish trend, with the price surpassing key resistance levels.
Trend Indicators: The 1-hour chart shows a bullish trend, with DOGE trading above short-term moving averages. The Relative Strength Index (RSI) is approaching overbought territory, suggesting strong upward momentum.
Support and Resistance Levels: Immediate resistance is near $0.400, with support around $0.350. A break above $0.400 could signal further gains, while a drop below $0.350 might indicate a reversal.
Liquidation Heatmap Insights:
Liquidation heatmaps highlight price levels with significant leveraged positions that could trigger liquidations. High concentration areas often act as magnets, attracting price movements.
High-Risk Zones: Significant liquidation levels are identified around $0.390 and $0.410, indicating potential resistance due to profit-taking or stop-loss triggers.
Supportive Zones: Clusters near $0.360 suggest buying interest, providing support if the price declines.
Entry Point:
Given the current momentum, a potential entry point could be around $0.365, anticipating a minor pullback before the continuation of the upward trend.
Take Profit (TP):
A reasonable take profit target might be set near the next resistance level at $0.400, aligning with recent price movements and technical indicators.
Stop Loss (SL):
To manage risk, consider placing a stop loss below the recent support level, perhaps around $0.350.
