I am Qi He. Watching the 4-hour chart of DOGE, I came across Binance's big news and feel that tonight's market is just right! Many are asking: It's rising pretty well now, will it push all the way to 0.145? Or will it turn around and drop to 0.140 or even 0.132? Don't rush, let me explain it clearly in simple terms, and then teach you two practical strategies.
Looking at the news: The good news is true, but be careful of 'expectations landing'!
Binance has launched the DOGE/USD1 trading pair, and also started robot services with zero fees, which is definitely a major positive! This means more players and more convenient tools will come in, liquidity will be better, and the heat will be higher. Usually, such news attracts new funds' attention, which supports the price.
Look at the technicals: the trend is your friend, but resistance is a real wall!
From the chart, DOGE's current 4-hour trend is indeed upward, like a car climbing a hill. The two lines of MACD have a 'golden cross' above the zero axis, which is a signal that the engine is still revving, indicating that the bulls are temporarily in control.
The key is to look at several price levels, which are clearly marked on the chart:
Upper ceiling: around 0.14570. This is the first hard hurdle; it has been rejected here several times before, like a wall.
Lower floor: 0.14000 is the recent strong weakness dividing line. If it can hold here, there is still a chance to push higher. 0.13353 is a stronger support and can be seen as a 'bunker' position.
What should current players do?
If already holding: you can set 0.140 as a protection level; as long as the price doesn't fall below here, the trend isn't broken, and you can hold on to see if it can spike.
If you want to enter the market: chasing high now is not cost-effective. A safer approach is to wait for a pullback.
Position management is the lifeline: no matter how optimistic you are, don't let a single investment exceed 20% of your total funds. The market unfolds, not guessed.
Qi He's personal opinion:
With the positive stimulus of being listed on Binance, the short-term sentiment is leaning towards bullish, with the momentum to attack the 0.145 resistance level again. However, whether it can 'break through in one go' is crucial tonight. If it surges and holds steady, then the space may open up. But if it struggles near 0.145 and can't move up, then it needs to be cautious about dropping back to 0.140 to find support.
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