Dogeusd (
DOGE) just got rejected at the major $0.249 supply zone and is now heading lower on weakening momentum. After the strong May rally, bulls are losing steam—and a deeper retracement could be brewing!
4H Chart – COINBASE
What’s Happening?
Price touched a high-volume supply zone at $0.249 and was sharply rejected.
Bearish divergence and weakening follow-through on recent rallies.
Currently sitting near $0.22, but downside pressure is building fast.
Key Levels to Watch:
Resistance: $0.249 – Previous rejection point and supply cluster.
Support 1: $0.195 – Prior breakout level (could offer temporary bounce).
Support 2: $0.140 – Strong demand zone and previous consolidation floor.
Bearish Outlook:
If $0.22 breaks, expect quick moves to $0.195, and possibly $0.14 if fear kicks in.
U.S. economic data in the coming days (icons near early June) could cause surprise volatility.
Bullish Scenario?
Bulls need to reclaim $0.249 with strong volume to invalidate this rejection.
A clean breakout here could target $0.28–$0.30 next, but odds are fading unless momentum returns fast.
Trade Setups:
Scalp Short: Re-entry on rejection wicks near $0.24–$0.245.
Swing Short: Confirmation below $0.22 with targets at $0.195 / $0.14.
Long Watch: Look for signs of absorption and reversal at $0.14–$0.15.
DOGE is back on the radar—but are we flying to the moon or crashing into orbit?
Let me know your position below! Holding, shorting, or waiting for the dip?
#Dogecoin #DOGEUSD #Altcoins #CryptoTrading #SupplyDemand #TechnicalAnalysis #Crypto #TradingView #MemeCoin #ElonTrades
DOGE) just got rejected at the major $0.249 supply zone and is now heading lower on weakening momentum. After the strong May rally, bulls are losing steam—and a deeper retracement could be brewing!4H Chart – COINBASE
What’s Happening?
Price touched a high-volume supply zone at $0.249 and was sharply rejected.
Bearish divergence and weakening follow-through on recent rallies.
Currently sitting near $0.22, but downside pressure is building fast.
Key Levels to Watch:
Resistance: $0.249 – Previous rejection point and supply cluster.
Support 1: $0.195 – Prior breakout level (could offer temporary bounce).
Support 2: $0.140 – Strong demand zone and previous consolidation floor.
Bearish Outlook:
If $0.22 breaks, expect quick moves to $0.195, and possibly $0.14 if fear kicks in.
U.S. economic data in the coming days (icons near early June) could cause surprise volatility.
Bullish Scenario?
Bulls need to reclaim $0.249 with strong volume to invalidate this rejection.
A clean breakout here could target $0.28–$0.30 next, but odds are fading unless momentum returns fast.
Trade Setups:
Scalp Short: Re-entry on rejection wicks near $0.24–$0.245.
Swing Short: Confirmation below $0.22 with targets at $0.195 / $0.14.
Long Watch: Look for signs of absorption and reversal at $0.14–$0.15.
DOGE is back on the radar—but are we flying to the moon or crashing into orbit?
Let me know your position below! Holding, shorting, or waiting for the dip?
#Dogecoin #DOGEUSD #Altcoins #CryptoTrading #SupplyDemand #TechnicalAnalysis #Crypto #TradingView #MemeCoin #ElonTrades
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.