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I've been watching DOGE's 4-hour chart lately and noticed a few things.
The price is indeed moving up, but there are some issues. The MACD just made a bullish crossover below the zero line, which is usually a bullish signal, but the problem is that trading volume hasn't picked up at all, and the indicators are already hitting overbought territory. It's like trying to accelerate uphill after taking your foot off the gas—sounds impressive, but in reality, you're likely to stall.
Key resistance and support levels to remember: On the upside, the current resistance is around 0.166, and if that's broken, there's strong resistance at 0.187. On the downside, the first line of defense is at 0.12; if that doesn't hold, it could quickly test 0.1.
My personal view? In the short term, there could still be a momentum-driven push, maybe even touching 0.16, but if volume continues to dry up, be careful—it could be a bull trap. When there's no major news in the market, that's when we see "fake breakouts, real dumps" happen most often.
A few operational suggestions:
- Don't go in too heavy—if you're holding some, consider selling a portion in batches as the price approaches 0.166, and keep some ammo on the side.
- Set a stop-loss—if the 4-hour chart breaks below key support, get out without hesitation.
- Wait for a pullback to enter—if it really pulls back to around 0.12 and holds, that's a relatively safer entry.
I've seen plenty of similar patterns before: price surges with shrinking volume, a bunch of people chase the rally, and then it quickly reverses, trapping everyone. Sometimes, nailing the timing is more important than predicting the direction.