Dogecoin is currently trading at $0.22577, stuck just below a major supply zone around $0.24. Price has been rejecting this zone multiple times, indicating strong seller interest.
Here’s what I’m watching:
Supply Zone @ $0.24009: Price failed to break above this zone, forming a potential double top—classic bearish signal.
Support Zone @ $0.19361: If price breaks down from current range, this is the first key demand level I’ll be watching.
Final Demand Zone @ $0.14083: Strong accumulation seen here historically. If we hit this level, I expect a sharp reaction.
Short-Term Bearish Bias: With multiple rejections at the top and decreasing momentum, DOGE might be gearing for a pullback towards $0.193 or even $0.140, especially if BTC shows weakness.
Plan:
Looking to short under $0.22 if bearish confirmation shows (e.g., break of minor support).
Potential long entries near $0.193 or $0.140, depending on price action.
Do you think DOGE will break $0.24 or are we heading lower first?
Drop your thoughts and trade setups below!
#Dogecoin #CryptoTrading #DOGEUSD #PriceAction #SupplyAndDemand #FrankFx #LuxAlgo
Here’s what I’m watching:
Supply Zone @ $0.24009: Price failed to break above this zone, forming a potential double top—classic bearish signal.
Support Zone @ $0.19361: If price breaks down from current range, this is the first key demand level I’ll be watching.
Final Demand Zone @ $0.14083: Strong accumulation seen here historically. If we hit this level, I expect a sharp reaction.
Short-Term Bearish Bias: With multiple rejections at the top and decreasing momentum, DOGE might be gearing for a pullback towards $0.193 or even $0.140, especially if BTC shows weakness.
Plan:
Looking to short under $0.22 if bearish confirmation shows (e.g., break of minor support).
Potential long entries near $0.193 or $0.140, depending on price action.
Do you think DOGE will break $0.24 or are we heading lower first?
Drop your thoughts and trade setups below!
#Dogecoin #CryptoTrading #DOGEUSD #PriceAction #SupplyAndDemand #FrankFx #LuxAlgo
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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.