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On the DOGE/USDT 4-hour chart, we see some very interesting price action. Below is my quick interpretation of what is going on at this time:
​Technical Data:
​Price Action: The price of #DOGE is presently trading near the psychological support of $0.100. It is critical that this level holds above or the bullish trend is likely over if price closes below this area.
​EMA Indicators: Price is trading below both EMA(7) and EMA(25), indicating that there is short-term bearish pressure (need to close greater than $0.102 to get bullish).
​MACD Status: The MACD is currently curved slightly downward with histogram bars turning red. The momentum favors the sellers at this point and we may see some consolidation.
​Support and Resistance: * Major Support - $0.080 (Very strong floor)
​Immediate Resistance - Breakout Zone: $0.109 - $0.112 (Breaking through here should push price higher)
My Strategy:
This has been a fairly indecisive market right now and will be watching the volume closely. If hold $0.100 with a strong green candle, a move toward $0.120 is possible. However, stay cautious and manage your risks!What do you think? Is it time to Buy the Dip or wait for lower levels? Let me know in the comments
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