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DOGEUSDT trade ideas

Dogecoin’s Bearish Pennant: Key Levels to Watch for!Overview: Dogecoin (DOGE/USDT) is forming a bearish pennant, a continuation pattern often signaling further downside after a strong prior move. The price is currently trading at $0.4275, consolidating below a key resistance zone. This setup suggests potential bearish momentum if the pattern resolves to the downside. Key Observations: 1. Bearish Pennant Formation: • DOGE has consolidated into a tight range after a sharp prior decline, forming a classic pennant structure. • The upper boundary of the pennant lies near $0.4400, which is the critical resistance level. 2. Critical Resistance – $0.4400: • A 4-hour close above $0.4400 will invalidate the bearish pennant and may trigger bullish momentum. • Buyers are likely to gain confidence if the price breaks and holds above this level. 3. Downside Targets: • If the pennant resolves downward, the measured move projects a potential drop towards the yellow line near $0.3800, aligning with the next significant support zone. • Additional support levels are identified at $0.4000 and $0.3850 before reaching the yellow zone. 4. Volume Profile Analysis: • Decreasing volume within the pennant indicates reduced participation, a characteristic of the consolidation phase. A breakout (up or down) is likely to be accompanied by a surge in volume. Scenarios: Bearish Resolution (Most Likely): • Action: The price fails to break above $0.4400, leading to a breakdown below the pennant’s lower boundary. • Confirmation: A 4-hour close below $0.4150 confirms the bearish breakdown. • Targets: • First Target: $0.4000 • Second Target: $0.3850 • Final Target: $0.3800 (yellow line and key Fibonacci level). • Stop Loss: Above $0.4400 (invalidation level). Bullish Invalidity: • Action: The price closes a 4-hour candle above $0.4400, invalidating the pennant structure. • Next Levels: • Immediate target: $0.4600 • Extended target: $0.5000 (overhead resistance zone). Dogecoin is at a critical juncture, forming a bearish pennant that suggests a potential move lower. Key levels to monitor are $0.4400 (resistance) and $0.4150 (support). A breakdown below the pennant’s support would target $0.3800, while a breakout above $0.4400 invalidates the bearish outlook and opens doors for bullish momentum. Watch for volume to confirm the breakout direction.
Short
by MastaCrypta
2
DOGE - Massive BullflagDoge has also started to create a bullflag as price has squeezed in between our pattern for the last couple weeks. Viaquant did correctly predict the previous breakout from $0.36-$0.48. That post can be found here: Now that we have had more time to mature in this pattern, a much larger breakout should be expected if price breaks to the upside. Our bullflag extension target would lead us to a price of $0.735 which is very close to DOGE's 2021 ATH of $74. I would also like to point out the psychological $0.69420 level could come into play. If the daily RSI can continue to maintain above the 70 level then there is a very high likelihood for this breakout. If the strength index drops back below, this trade idea no longer looks as good.
by VIAQUANT
DOGE/USDT (1D Chart) DOGE/USDT continues to display bullish market behavior, consolidating within a **rising wedge** formation as the price trends upward. The narrowing of the wedge indicates that the price is approaching a critical point for its next major move. **Key Observations:** 1. **Price Action:** - The price remains firmly above key moving averages (20, 50, and 200), signaling a continuation of the broader uptrend. - The narrowing wedge reflects a buildup of tension, typical before a decisive breakout or breakdown. 2. **Volume and CMF Dynamics:** - A **notable drop in volume** is visible as the price consolidates, which often signals a pending sharp move. - The **Chaikin Money Flow (CMF)** indicates declining momentum, highlighting a reduction in buying strength and market participation at this stage. 3. **Momentum Indicators:** - **OBV (On-Balance Volume):** Maintains an upward trend, indicating consistent accumulation despite the consolidation. - **RSI:** At **70.95**, the slightly overbought reading suggests the possibility of temporary consolidation or a pullback before a potential continuation of the uptrend. **Conclusion:** DOGE/USDT is approaching a decisive moment as it consolidates within its rising wedge. The **drop in volume**, visible both on the chart and through the **CMF**, is a common precursor to significant price action. While momentum remains intact, traders should watch for increased activity that confirms the next move.
Long
by vagada
Technical Analysis for $DOGE/USDT Technical Analysis for $DOGE/USDT The chart displays a Cup and Handle pattern, a classic bullish continuation signal, forming above the support zone around $0.35985 - $0.30688. The breakout above the handle's resistance level signals strong upward momentum, targeting higher price levels. Key Levels The critical support lies at $0.35985 - $0.30688, providing a safety net and ideal re-entry for buyers. Resistance Levels (Targets): T1: $0.51483 T2: $0.64038 T3: $0.77148
Long
by VIPROSE
6
Dogecoin’s Bearish Pennant: Key Levels to Watch for!Overview: Dogecoin (DOGE/USDT) is forming a bearish pennant, a continuation pattern often signaling further downside after a strong prior move. The price is currently trading at $0.4275, consolidating below a key resistance zone. This setup suggests potential bearish momentum if the pattern resolves to the downside. Key Observations: 1. Bearish Pennant Formation: • DOGE has consolidated into a tight range after a sharp prior decline, forming a classic pennant structure. • The upper boundary of the pennant lies near $0.4400, which is the critical resistance level. 2. Critical Resistance – $0.4400: • A 4-hour close above $0.4400 will invalidate the bearish pennant and may trigger bullish momentum. • Buyers are likely to gain confidence if the price breaks and holds above this level. 3. Downside Targets: • If the pennant resolves downward, the measured move projects a potential drop towards the yellow line near $0.3800, aligning with the next significant support zone. • Additional support levels are identified at $0.4000 and $0.3850 before reaching the yellow zone. 4. Volume Profile Analysis: • Decreasing volume within the pennant indicates reduced participation, a characteristic of the consolidation phase. A breakout (up or down) is likely to be accompanied by a surge in volume. Scenarios: Bearish Resolution (Most Likely): • Action: The price fails to break above $0.4400, leading to a breakdown below the pennant’s lower boundary. • Confirmation: A 4-hour close below $0.4150 confirms the bearish breakdown. • Targets: • First Target: $0.4000 • Second Target: $0.3850 • Final Target: $0.3800 (yellow line and key Fibonacci level). • Stop Loss: Above $0.4400 (invalidation level). Bullish Invalidity: • Action: The price closes a 4-hour candle above $0.4400, invalidating the pennant structure. • Next Levels: • Immediate target: $0.4600 • Extended target: $0.5000 (overhead resistance zone). Dogecoin is at a critical juncture, forming a bearish pennant that suggests a potential move lower. Key levels to monitor are $0.4400 (resistance) and $0.4150 (support). A breakdown below the pennant’s support would target $0.3800, while a breakout above $0.4400 invalidates the bearish outlook and opens doors for bullish momentum. Watch for volume to confirm the breakout direction.
Short
by MastaCrypta
DOGE king of memcoins!Hello everyone, I invite you to review the DOGE chart, as we can see, the price has bounced perfectly from the strong resistance at the level of $0.48, which is at the so-called Fibonachi golden point (0.618), only when it breaks out of it the upward trend will move towards the level of $0.59 , only when it is overcome will the path towards the last peak at the level of $0.73 open. Looking the other way, you can see support at $0.38, which kept the price on the correction. However, if this support is broken, we could see a drop to the strong support zone from $0.26 to $0.21. It is worth looking at the RSI indicator, which shows how high we are, which could indicate an upcoming recovery, but we are in a bull market and the inflow of capital may trigger an upward movement again.
by cryptodailyuk