Dogecoin has hit a major supply zone around $0.24, where sellers have consistently stepped in. This zone has now been tested multiple times without a breakout, indicating a strong resistance area.
Current Price: $0.2274
Bearish Signals:
Multiple rejections from the blue supply zone (visible range volume confirms this is a high-interest area).
Lower highs forming since last peak.
Failure to close above $0.24 on repeated attempts = potential distribution phase.
Key Levels to Watch:
$0.1958: First support. If this breaks, expect increased selling pressure.
$0.1408: Strong demand zone — last area where bulls stepped in aggressively. This could be a target for swing traders.
Trade Idea:
Short bias as long as price stays below $0.24.
Look for breakdown confirmation below $0.1958 for a swing entry.
Target: $0.1408 zone.
Stop loss: Above $0.2420 to manage risk.
Bearish Confirmation: A 4H candle close below $0.1958 could trigger a move toward the demand zone.
Volume Insight: Volume is drying up on each retest, indicating exhaustion of buyers at higher levels.
What do you think? Will DOGE break down or bounce back? Drop your thoughts!
#Dogecoin #DOGEUSD #CryptoAnalysis #TradingView #SupplyAndDemand #LuxAlgo #Altcoins #SwingTrade #TechnicalAnalysis
Current Price: $0.2274
Bearish Signals:
Multiple rejections from the blue supply zone (visible range volume confirms this is a high-interest area).
Lower highs forming since last peak.
Failure to close above $0.24 on repeated attempts = potential distribution phase.
Key Levels to Watch:
$0.1958: First support. If this breaks, expect increased selling pressure.
$0.1408: Strong demand zone — last area where bulls stepped in aggressively. This could be a target for swing traders.
Trade Idea:
Short bias as long as price stays below $0.24.
Look for breakdown confirmation below $0.1958 for a swing entry.
Target: $0.1408 zone.
Stop loss: Above $0.2420 to manage risk.
Bearish Confirmation: A 4H candle close below $0.1958 could trigger a move toward the demand zone.
Volume Insight: Volume is drying up on each retest, indicating exhaustion of buyers at higher levels.
What do you think? Will DOGE break down or bounce back? Drop your thoughts!
#Dogecoin #DOGEUSD #CryptoAnalysis #TradingView #SupplyAndDemand #LuxAlgo #Altcoins #SwingTrade #TechnicalAnalysis
Trade active
Dogeusd has hit take profit 1 so keep watching it 
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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.