DOGE / USDTLong
DOGE/USDT 1H: Bulls Eyeing $0.42!!
DOGE/USDT 1H Chart Analysis (SMC Principles)
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Current Price: $0.37924
Key Points:
Trade Setup:
Market Maker Analysis:
Recommendation:
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Current Price: $0.37924
Key Points:
- Strong bullish momentum after breaking the equilibrium zone.
- RSI at 59 indicates strength with room to move higher.
- Break above the previous fair value gap (FVG) at $0.365.
- Premium zones identified at $0.40-$0.42.
Trade Setup:
- Entry Zone: $0.378-$0.380
- Targets:
- T1: $0.40 (premium zone).
- T2: $0.42 (major resistance).
- Stop Loss: Below $0.365 (recent FVG).
Market Maker Analysis:
- Accumulation phase completed at $0.34-$0.35.
- Likely distribution zone above $0.42.
- No significant divergences present, supporting the bullish case.
- Risk Score: 7/10 (favorable risk-to-reward setup).
Recommendation:
- Long positions favored with a confidence level of 8/10.
- Monitor for sustained volume and breakout confirmations above $0.40.
- Conservative position sizing advised due to broader market conditions.
- Confidence Level: 8/10 for bullish continuation.
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