Updated

Dogecoin at $0.402: Sit, Stay, or Fetch the Moon?

Dogecoin is currently trading around a key support level at $0.40, with the market poised for its next major move. This level will likely play a crucial role in determining the short-term trend, as the balance between buyers and sellers tightens.

A dip toward $0.394 followed by a strong recovery could signal that bullish sentiment remains intact, with buyers likely targeting higher resistance level (Dashed Green Projection).
A break above the $0.432 mark would confirm a shift in momentum, opening the door to further upside toward the critical resistance at $0.485 and possibly beyond (Solid Green Projection).
Conversely, a failure to hold the $0.394 support may indicate weakness, increasing the probability of a deeper decline. In this case, the next significant support lies around $0.374, and a breach of this zone could accelerate bearish pressure, pushing prices closer to $0.342 (Red Projection).

Trade active

Dogecoin is still lingering around $0.394, the key support in the 4-Hour chart. We need to see a bullish momentum from the current price location (Scenario 1 above) that will push price for re-test of $0.43, the next key intraday resistance. An inability to sustain price action above $0.394 will lead to more bearishness with rapid decline toward $0.374 and, possibly, lower.

Note

There is no much change in the Doge price chart. Please mind that between $0.394 and $0.43 is the range zone where the price action will be slow and choppy. We need to see a bullish momentum to the top of this range zone.

Note

Doge has turned bearish on the 4-hour chart, triggering Scenario 3 (Red Projection above). The price action will be crucial in the next few hours. The next support is at $0.374, but the key support lies at the $0.342 zone, where a strong reaction is expected. A dip to this critical support could present a potential long opportunity.

Trade closed: target reached

Yesterday, we saw Scenario 3 (red projection) unfolding with $0.342 target reached.

Trade-Lean

Also on:

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.

Trade-Lean

Also on: