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Comprehensive analysis shows that DOGE is currently showing a typical sideways trend after falling at the 1-hour level. Despite the short-term technical rebound, the daily-level top pattern has not been reversed, and the overall trend is still weak. The current rebound is limited, and the market clearly lacks upward confidence below the key resistance area. Core technical observations K-line structure: multiple kongs confront each other, kong heads dominate On the 1-hour period, during the price rebound, a downward trend line was formed with the high point gradually moving downward, indicating that each rebound encountered strong selling pressure. Although there was a short-term stop signal of "single pin bottom", it failed to effectively break through the suppression of the key moving average EMA120, and the sustainability of the rebound was questionable. In terms of the daily level, the previous bearish "evening star" pattern triggered this round of downward movement. Subsequently, although there was a K-line with a long lower shadow line suggesting short-term bottom-buying behavior, the subsequent rebound trading volume shrank significantly, forming a typical "volume-price divergence", indicating that buying was weak, the rebound foundation was weak, and there was a greater possibility of another decline in the future.  Trading volume exposes the weak nature of rebound The recent decline has been accompanied by a significant increase in volume (for example, the transaction volume on October 30 reached US$1.657 billion), indicating that the market has strong panic and heavy selling pressure.； During the subsequent rebound phase, the trading volume plummeted to US$83 million (October 31), reflecting that investors had very little willingness to chase the rise and lacked incremental financial support, making the rebound unsustainable. Key Trading Strategy Tips [Doing Duo Strategy: Participate in the rebound with caution] Timing of entry: It is recommended to try it near the previous low, refer to the support level of $0.18100, or a stronger support of $0.17850. Stop loss setting: Be sure to place the stop loss strictly below $0.17600. Once it falls below the previous low of the daily line, the rebound will be deemed to have failed and a new round of decline may begin. Target position: The first target points to the downward trend line pressure level of $0.18550, and the second target is the previous high point resistance of $0.18700. [Strategy for kong making: follow the trend] Timing of entry: A rebound to the resistance range is an ideal trading window, focusing on the $0.18550 – $0.18700 area. Stop loss setting: In order to prevent the risk of false breakthroughs, the stop loss of Kun order should be placed above $0.18850. Target outlook: If the price encounters resistance and falls back in the resistance zone, the primary support below will be the above-mentioned long point.； A breakdown could lead to a further test of $0.176 or even lower levels. Summary and Outlook DOGE is currently in a weak shock stage, and DOGE lacks sufficient momentum to break through the multiple resistances above. Until the price effectively stands above $0.18850, shorting on rallies is still a trading strategy that is more in line with the current trend. Any rebound is a high-risk short-term operation, and stop-loss discipline must be strictly implemented. Risk warning: The analysis in this article is based on public market data and is for reference and communication only and does not constitute investment advice. The cryptocurrency market is highly volatile, so investments must be made with caution and at your own risk. |
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