๐๐ DOGE Update: Target Reached & Whatโs Next? ๐๐
Hey guys! Weโve just smashed through our last target of $0.135! ๐ฏ$DOGE hit $0.1384, marking a fresh rally, and we're not done yet! Letโs dive into the 1-hour chart and explore where Dogecoin could be headed next. ๐
๐ Technical Analysis
Current Price: $0.1342
Moving Averages:
50 EMA: Sitting at $0.1254, supporting the uptrend with higher lows in play. This is a bullish sign and could continue to provide a strong support zone!
200 EMA: Now at $0.1175, confirming DOGEโs upward momentum as it stays well above this long-term support level. ๐
MACD: The MACD remains in bullish territory, with both lines trending upwards, although the histogram shows momentum is stabilizing. Keep an eye on this for any potential signs of consolidation.
RSI: Currently at 70.6, weโre right on the edge of overbought territory. While this indicates strong buying pressure, it also suggests a pullback or consolidation could happen soon before another breakout. ๐
๐ฅ Key Levels to Watch:
Immediate Support: $0.1300 - Watch this zone for a bounce if there's a minor dip. Buyers could step in here to push DOGE higher!
Next Resistance: $0.1400 - Breaking this resistance could ignite a move towards $0.1450, possibly even challenging the $0.15 psychological level! ๐
๐ Trading Strategy:
Entry Point: Look for entries between $0.1300 - $0.1320 if DOGE consolidates here and holds this level. This would be a good spot for those looking to join the rally.
Target Exit 1: $0.1380 - $0.1400 is a key resistance zone. Take profits here if you prefer to play it safe! ๐ฏ
Target Exit 2: For the risk-takers, keep your eye on $0.1450+โif DOGE breaks $0.1400 with strength, we could see a rapid move up!
Stop-Loss: Consider a stop-loss around $0.1270 to protect your position against any larger downside movements.
โ ๏ธ Pro Tip:
With DOGE approaching overbought levels, we might see a quick pullback or sideways action.
