Brothers, Dog King DOGE is also struggling! The tweets across the internet are still variously promoting it, being discussed alongside BTC and ETH, but the price is quite honest. On the 4-hour chart, it can't even break through the key level of 0.1325, and is now firmly holding the support at 0.129. Is this 'bull market urgent drop' or is it really unable to hold on? Let me clarify for you.
News front
DOGE has indeed frequently appeared in discussions of futures trading on major platforms recently, tied to contract activities on mainstream exchanges like Binance. What does this indicate? It is still one of the barometers of market sentiment, with heat but lacking its own independent upward logic. This 'accompanying flight' state means that if the market is unstable, it won't hesitate to drop.
Technical Analysis
From the 4-hour candlestick chart, after failing to break through 0.1325, DOGE turned downward, which is a clear signal of weakness. The price is currently struggling around 0.129; if it can't hold here, we will have to test the strong support at 0.125 below. The overall structure is 'high points moving down, low points moving down', a typical downward trend. Without a significant bullish candlestick to reverse the situation, it is difficult to change the trend.
Personal opinion of Hongcai
I'll say my judgment directly: Before seeing a volume breakthrough at 0.1325, the probability of DOGE continuing to decline or oscillate downward is higher. The position at 0.129 may have fluctuations, but if the rebound can't even pass 0.131, that is a weak rebound, providing you with an opportunity to reduce your position, not a signal to charge.
What should retail investors and beginners do? Remember these three points!
For those holding positions at a loss: If the price rebounds to the 0.1305-0.1315 range and still lacks strength, decisively reduce your position. If it directly breaks below 0.1285 with volume, don’t hesitate, get out first.
For those looking to buy at the bottom: Absolutely do not catch falling knives halfway up the mountain! If you really want to position yourself, wait for two levels: one is to stabilize above 0.133 with volume; the other is to drop near the strong support at 0.125, and observe a clear candlestick indicating a stop in the decline (like a long lower shadow). In other cases, just watch!
For those on the sidelines: DOGE is highly volatile and not suitable for heavy holding. If you feel tempted, you can only use small funds to place orders in the 0.129-0.125 range in batches, and you must set a stop-loss (for example, if it drops below 0.1245). Take the profit and run, don’t get attached to the battle.
DOGE is currently in an awkward phase of 'having heat but lacking momentum', where technical analysis is more reliable than news. In the crypto world, price movements are always more trustworthy than the noise on social media. Control your hands and wait for the wind to come!
Wealth does not enter through urgent doors; making money in the crypto world relies on understanding and patience, not shortcuts and luck! Follow Hongcai and participate in every offensive of Hongcai! Hongcai will announce specific entry times and real-time news every day at the house of the God of Wealth!#加密市场观察 $DOGE
