$DOGE Reached local resistance but failed to hold, leaving a falling shadow and weak structural highs. The rebound lacks follow-through momentum, and the price is currently compressing below the supply zone, indicating that sellers are re-entering the market.

This looks like distribution after a pullback rather than a strong rebound. As long as the price is blocked below the resistance level, the downtrend remains dominant.

At this point, chasing the market carries a high risk—shorting is the more prudent choice.

Trade setup

Short entry point: 0.1255 – 0.1265

Target level 1: 0.1235

Target level 2: 0.1210

Target level 3: 0.1185

Stop loss level: 0.1285

DOGEUSDT

Perp

0.10853

+2.73%