DOGE/USDT 1H: Bullish Reversal in Play – Eyeing $0.31!?
DOGE/USDT 1H Chart Analysis
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Current Market Structure:
Bullish reversal confirmed after testing discount zone at $0.21.
Price currently at $0.286, showing strong momentum from equilibrium zone.
RSI at 60.09, indicating healthy momentum without overbought conditions.
Smart Money Concepts:
Accumulation phase completed at discount zone.
Clear bullish order block formed at $0.26.
No significant bearish divergences present.
Market Makers likely targeting premium zone for distribution.
Key Levels:
Support: $0.275 (recent consolidation zone).
Resistance: $0.31 (previous structure high).
Premium Zone: $0.33-$0.34.
Trade Setup (Confidence Level: 8/10):
Entry: $0.285-$0.288 range.
Targets:
T1: $0.31 (previous consolidation high).
T2: $0.33 (premium zone).
Stop Loss: Below $0.272 (recent structural low).
Risk Score: 7/10 - Favorable risk/reward setup with a clear invalidation level.
Market Maker Intent:
Strong accumulation in discount zone suggests upside continuation.
Expect price to target premium zones before possible redistribution.
Monitor volume on breakout of $0.31 for confirmation of trend continuation.
Recommendation:
Long positions favorable within $0.285-$0.288.
Maintain tight stop-loss to mitigate risk.
Watch for price action near premium zones for potential distribution.
Confidence Level: 8/10 for bullish continuation.
🚀 Follow me on TradingView if you respect our charts! 📈 Daily updates!
🚀 Follow me on TradingView if you respect our charts! 📈 Daily updates!
Current Market Structure:
Bullish reversal confirmed after testing discount zone at $0.21.
Price currently at $0.286, showing strong momentum from equilibrium zone.
RSI at 60.09, indicating healthy momentum without overbought conditions.
Smart Money Concepts:
Accumulation phase completed at discount zone.
Clear bullish order block formed at $0.26.
No significant bearish divergences present.
Market Makers likely targeting premium zone for distribution.
Key Levels:
Support: $0.275 (recent consolidation zone).
Resistance: $0.31 (previous structure high).
Premium Zone: $0.33-$0.34.
Trade Setup (Confidence Level: 8/10):
Entry: $0.285-$0.288 range.
Targets:
T1: $0.31 (previous consolidation high).
T2: $0.33 (premium zone).
Stop Loss: Below $0.272 (recent structural low).
Risk Score: 7/10 - Favorable risk/reward setup with a clear invalidation level.
Market Maker Intent:
Strong accumulation in discount zone suggests upside continuation.
Expect price to target premium zones before possible redistribution.
Monitor volume on breakout of $0.31 for confirmation of trend continuation.
Recommendation:
Long positions favorable within $0.285-$0.288.
Maintain tight stop-loss to mitigate risk.
Watch for price action near premium zones for potential distribution.
Confidence Level: 8/10 for bullish continuation.
🚀 Follow me on TradingView if you respect our charts! 📈 Daily updates!
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.
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.