English
20197
 After experiencing a violent shock that made traders nervous, Dogecoin (DOGE) finally showed signs of "recovery" - it accurately found key support near $0.16, showing strong technical resilience. Can this rebound turn from a "short-term recovery" into a "trend reversal"? The key lies in whether it can stand firm at a core resistance level. Once it breaks through, the room for subsequent upside is expected to be completely opened! The 200-week moving average protected the market 6 times, and US$0.16 became a "golden bottom"”Market analyst Kevin shared the key point: Dogecoin rebounded strongly from near the 200-week exponential moving average (EMA), which can be called its "trend watershed." It can be clearly seen from the weekly chart that Dogecoin rebounded quickly after hitting bottom near $0.16, and has now returned to $0.17737 (as of press time), returning to the main trading range of the year. What is more noteworthy is that since last summer, this 200-week EMA has successfully supported the rising structure of Dogecoin 6 times, always maintaining an upward trend, and becoming a veritable "artifact for protecting the market." Kevin's analysis does not look at market sentiment, but only focuses on hard-core technical levels. He emphasized that the current core focus of Dogecoin is $0.202 - if the closing price can hold firm at this position within three days, it means that it has returned to above the 0.5 times Fibonacci retracement level, and at the same time stood on the three-day 200-day moving average/simple moving average, and the technical side will become completely stronger.  In addition, the upward sloping channel formed by two yellow boundary lines on the chart has been guiding the trend of Dogecoin in the past year, and the trend can be verified every time the channel line is touched. The long lower shadow line left by the recent K-line also fully shows that a large number of bottom-hunting funds have entered the market near $0.16, and the buying power is quite strong. The long and short road map is clear: it stands at $0.202 and rushes to $0.305, and may break to $0.05The analysis directly gives the "rise and fall script" of Dogecoin, and the key long and short positions are clear at a glance: Bull’s Path: Breakthrough $0.202 to Start Breakthrough ModeOnce the three-day closing price stands at $0.202, Dogecoin will gain strong upward momentum. The next resistance levels to be faced are in order: $0.24, $0.26, $0.285, with the final target directed at $0.305. These resistance levels correspond to previous weekly turning points and coincide with the upper track of the channel that was touched many times during the summer and early autumn-the position that the sellers originally defended will now become the target of the bulls' attack. If this series of resistances can be successfully broken through, the Fibonacci extension lines in higher time frames also provide longer-term targets: $0.42, $0.54 or even $0.74. However, the core focus of the current market is to first overcome the "first hurdle" of $0.202.  Short risk: The rebound may fail and may drop to $0.05Of course, risks cannot be ignored. If the current rally fades, Dogecoin will face a test of multiple support levels: first, green horizontal support near $0.14, followed by deep weekly support at $0.09 and $0.05. These support levels are also reinforced by the remaining long-term downtrend line, and it is the overlay of these key levels that explains the previous strong buying around $0.16. However, as of press time, Dogecoin's short-term performance has been slightly under pressure, falling 2.1% in 24 hours to US$0.17737, which is still some distance away from the key resistance of US$0.202. For traders, the current operating logic is simple: Keep an eye on the three-day closing price performance of $0.202. As Kevin said on As long as $0.202 holds, upward momentum will follow. ” Will it start a new round of rise with the support of the 200-week moving average, or will the rebound be weak and bottom out again? The long-short showdown of Dogecoin has entered the most critical stage of the game. That’s all for today. The bull market is in its second half. If you really can’t do it yourself,Don’t force yourself, come and learn from me: click on any door!  👉Thank you for your attention, click me to send! 👈 |
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