DOGE / USDTLong
DOGE Accumulates at $0.41: Bulls Eye $0.445 Targets!
DOGE/USDT 4H Chart Analysis
Market Structure:
Key Levels:
Momentum Indicators:
Trade Setup:
Market Maker Activity:
Considerations:
This setup indicates a bullish continuation to $0.425 and $0.445, with accumulation driving the next leg up.
Market Structure:
- Current Price: $0.41.
- DOGE is in a clear accumulation phase, supported by institutional activity in the $0.36-$0.38 zone.
Key Levels:
- Support:
- Accumulation zone: $0.36-$0.38.
- Resistance:
- T1: $0.425.
- T2: $0.445.
Momentum Indicators:
- RSI: At 59.28, showing hidden bullish divergence, signaling strong potential for continuation.
- Volume Profile: Recent spikes in volume suggest institutional buying pressure.
Trade Setup:
- Entry: $0.408-$0.412.
- Targets:
- T1: $0.425.
- T2: $0.445.
- Stop Loss: $0.388 (below the accumulation zone).
- Risk-to-Reward: Favorable with strong support levels holding.
- Confidence Level: 8/10 for bullish continuation.
Market Maker Activity:
- Accumulation: Institutional buying is evident in the $0.36-$0.38 zone, preparing for a push toward higher price levels.
- Expectation: Price likely to target premium zones above $0.42, with market makers driving the
- trend.
Considerations:
- Volume confirmation: Ensure continued strong buy volume near $0.42 for a successful breakout.
- Support integrity: Monitor the $0.408 level to ensure it holds for bullish momentum.
- Resistance reaction: Be cautious around $0.425-$0.445 for potential pullbacks or consolidations.
This setup indicates a bullish continuation to $0.425 and $0.445, with accumulation driving the next leg up.
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