DOGE/USDT 1H Chart Analysis
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Current Market Condition:
Bearish consolidation at $0.33146 with strong resistance at $0.34000 (Premium Zone).
RSI: Bearish divergence at 49.69, indicating continued downside pressure.
Key Levels:
Resistance Zone: $0.34000 – $0.34500.
Support Levels:
T1: $0.32500 (Equilibrium Zone).
T2: $0.31500 (Discount Zone).
Stop Loss: Above $0.34500 for short positions.
Trade Setup (Confidence 8/10):
Entry: Short at current price ($0.33146).
Targets:
T1: $0.32500.
T2: $0.31500.
Stop Loss: $0.34500 (above key resistance).
Risk Score: 7/10 (moderate risk, but strong setup).
Market Maker Intent:
Distribution Phase: Visible at premium zone ($0.34000-$0.34500).
Bearish Confirmation: Watch for breakdown below $0.32500 to confirm further downside.
Recommendation:
Short positions favorable at current price ($0.33146).
Wait for breakdown confirmation below $0.32500 before adding shorts.
Maintain tight stops above $0.34500.
Confidence Level: 8/10 for bearish continuation.
🚀 Follow me on TradingView if you respect our charts 📈Daily new charts!,# DOGE/USDT 1H Chart Analysis
## Current Market Condition
– **Bearish Consolidation**: Trading has been occurring around $0.33146, indicating a bearish trend with significant resistance at $0.34000 within the premium zone.
– **RSI Indicator**: The Relative Strength Index shows bearish divergence at 49.69, suggesting continued downside pressure.
## Key Levels
– **Resistance Zone**:
– $0.34000 – $0.34500
– **Support Levels**:
– T1: $0.32500 (Equilibrium Zone)
– T2: $0.31500 (Discount Zone)
– **Stop Loss Guidance**:
– Recommended at above $0.34500 for those entering short positions.
## Trade Setup
– **Confidence Level**: 8/10
– **Trade Entry**: Short at the current price of $0.33146.
### Target Levels
– **T1**: $0.32500
– **T2**: $0.31500
### Risk Assessment
– **Risk Score**: 7/10, indicating moderate risk potential but a strong setup.
## Market Maker Intent
– **Distribution Phase**: Indications of distribution are prevalent in the premium zone ($0.34000-$0.34500).
– **Bearish Confirmation**: A breakdown below $0.32500 is crucial to confirm further bearish movement.
## Recommendation
– Favorable to initiate short positions at the current price of $0.33146.
– It is advised to wait for confirmation of a breakdown below $0.32500 before increasing short exposure.
– Maintaining tight stop losses above $0.34500 is essential for risk management.
### Closing Thoughts
Overall, the current analysis suggests a prudent strategy favoring bearish positions for DOGE/USDT, particularly given the existing resistance levels and bearish divergence in the RSI. Investors should remain vigilant and wait for confirmation of the downward trend before amplifying their positions, while also exercising caution with predetermined stop-loss measures in place.
Disclaimer. The opinions expressed by our writers are their own and do not represent the views of JustInvestNews . The financial and market information provided on JustInvestNews is intended for informational purposes only. JustInvestNews is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Original article: https://www.tradingview.com/chart/DOGEUSDT/EDIFrLxy-DOGE-USDT-1H-Bears-in-Control-Targeting-0-31500-Next/
