DOGE/USDT 1H: Bears Eye $0.348 After Rejection at $0.37 DOGE/USDT 1H Chart Analysis (SMC Principles)
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Current Price: $0.35948
Market Structure:
Bearish momentum with rejection from $0.37 resistance.
Lower highs forming as price tests the equilibrium zone.
Key Levels:
Resistance: $0.37 (premium zone).
Support: $0.348 (discount zone).
Technical Indicators:
RSI: 54.87, showing hidden bearish divergence.
Trade Setup (Confidence Level: 7/10):
Entry Zone: $0.35948 (current price).
Targets:
T1: $0.355
T2: $0.348
Stop Loss: Above $0.362 (recent swing high).
Risk Score: 7/10 (favorable R:R).
Smart Money Analysis:
Institutional selling pressure visible at $0.37, suggesting distribution.
Accumulation phase likely at $0.348, with market makers targeting liquidity below.
Recommendation:
Short position recommended with clear invalidation above $0.362.
For optimal entry, wait for a retest of $0.36 and monitor volume for confirmation.
Confidence Level: 7/10 for downside continuation.
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