Crypto analyst Crypto Paradise is sounding the alarm on Dogecoin, warning a “trap” could trigger a sharp downside move despite the meme coin’s recent pop above the $0.10 mark. In a TradingView write-up, Crypto Paradise says DOGE has formed a classic Volume Spread Analysis (VSA) setup — a buying climax followed by a climactic action bar — a combination he interprets as distribution. In VSA terms, that pattern often signals institutions using aggressive price spikes to offload inventory while retail traders pile in, meaning “smart money” may already be exiting as the crowd grows confident. Price context: Dogecoin briefly reclaimed the psychological $0.10 level alongside a broader crypto lift after Bitcoin pushed above the $79,000 area. Still, Crypto Paradise argues the structure remains vulnerable and that a fresh sell-off could be imminent. Key technical points from the analyst - The VSA pattern: DOGE swept the upper trigger line of the buying climax but failed to hold higher levels, and a candle subsequently closed below the lower trigger line — a classic sign that supply is dominating demand. - Trendline and structure: Dogecoin has respected a descending resistance trendline and has failed to break it, which the analyst views as ongoing structural weakness. - Momentum and order flow: Momentum has shifted down and the overall structure looks bearish. DOGE risks further declines while it remains inside the 1-hour order block and fair value gap zone. Targets and levels to watch - Immediate minor support: $0.09290 — the first downside “magnet” if selling pressure resumes. - Next downside target (per Crypto Paradise): roughly $0.08917 — a level he warns could be reached sooner than many expect. Some observers have even warned of deeper moves toward ~$0.08 if selling intensifies. - Bearish invalidation: a decisive break above $0.10338 with a strong momentum candle would negate this bearish thesis. Bottom line Crypto Paradise’s take is a reminder that short-term strength can mask underlying distribution. Traders should watch the identified support and resistance zones — and the VSA triggers — for confirmation of either a deeper pullback or a clean breakout that would flip the outlook bullish. Read more AI-generated news on: undefined/news