DOGE/USDT Technical Analysis
We can see that there is a major descending trend as of the end of 2024, and the coin is trading around the resistance of this falling trend. It is true that this price zone is technically very strong. In terms of support and resistance levels, everything is working properly. We should be following $0.238, $0.256, $0.322, $0.391, and finally the level of $0.466 following the trend breakout if we can see daily closings above the mentioned area.
Support levels $0.193 and $0.157 are of great importance for the continuation of the rise in case of a possible pullback. Possible buys from these areas may trigger a new rise in the scenario we mentioned.
In short:
- The price is testing the downtrend coming from the end of 2024.
- The price is at a strong resistance level.
- In the event of a breakout of the trend, resistances in the upper area will be possible targets.
- $0.193 and $0.157 are important levels in case of a pullback.
- The price might continue to rise if it doesn’t retreat much and finds support.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
