DOGE/USD – Supply Zone Rejection in Play! Is a Pullback ImminentDogecoin just tapped into a strong supply zone between $0.16624 – $0.16800 and showed immediate signs of rejection. Price action is slowing, and early sellers are stepping in—this could be the beginning of a short-term pullback.
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Key Levels to Watch:
Resistance (Supply): $0.16624 – $0.16800
Support 1: $0.16227
Support 2: $0.15740
Demand Zone: $0.15600–$0.15750
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Bearish Setup Alert:
Clean test of supply with rejection candle
Short-term bearish structure forming
Volume fading near the top—indicates buyer exhaustion
Next potential drop targets are $0.162 and $0.157
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Scalper’s Setup:
Short Entry: Near $0.16650–$0.16750
TP1: $0.162
TP2: $0.15750
SL: Above $0.16850
Risk/Reward: 1:2+
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What's Your Take?
Do you expect a bounce from support or deeper retracement to the demand zone?
Drop your thoughts below & like if you caught this move early!
#DOGE #Dogecoin #CryptoAnalysis #LuxAlgo #TechnicalAnalysis #Scalping #DayTrading #SupplyAndDemand #TradingView
