DOGE appears bearish long-term (Dec 2024 ATH: $0.48), but recent price action reveals bullish divergence.
🔑 Key Observations:
1️⃣ April 2025 "Weak Support" ($0.15):
Low-volume consolidation → weak seller commitment.
Swift breakout confirms this was a liquidity grab by bulls.
2️⃣ Bullish Momentum Acceleration:
Minor resistance at $0.25 breached with 24% above-average volume (July 15).
RSI rising from neutral (58) → room for upside.
3️⃣ Declining Seller Liquidity:
Order book depth: Buy support at $0.23 is 3x stronger than sell pressure at $0.26.
Funding rates neutral → no overheated long squeeze risk.
🎯 Forward Outlook:
Short-term: Pullback to $0.27-$0.28 (liquidity sweep) likely before continuation.
Targets: $0.45 (pre-2024 resistance) → $0.50 (psychological level).
❗ Risk Management:
Invalidation: Daily close below $0.22.
Position Entry: Limit orders near $0.28 with 2:1 R/R.
📊 Chart Annotations:
Green zone: Optimal buy area ($0.27-$0.28)
Red line: Key invalidation ($0.22)
Blue arrow: Projected path
🔑 Key Observations:
1️⃣ April 2025 "Weak Support" ($0.15):
Low-volume consolidation → weak seller commitment.
Swift breakout confirms this was a liquidity grab by bulls.
2️⃣ Bullish Momentum Acceleration:
Minor resistance at $0.25 breached with 24% above-average volume (July 15).
RSI rising from neutral (58) → room for upside.
3️⃣ Declining Seller Liquidity:
Order book depth: Buy support at $0.23 is 3x stronger than sell pressure at $0.26.
Funding rates neutral → no overheated long squeeze risk.
🎯 Forward Outlook:
Short-term: Pullback to $0.27-$0.28 (liquidity sweep) likely before continuation.
Targets: $0.45 (pre-2024 resistance) → $0.50 (psychological level).
❗ Risk Management:
Invalidation: Daily close below $0.22.
Position Entry: Limit orders near $0.28 with 2:1 R/R.
📊 Chart Annotations:
Green zone: Optimal buy area ($0.27-$0.28)
Red line: Key invalidation ($0.22)
Blue arrow: Projected path
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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.