DOGECOIN / TRADING INTO DESCENDING CHANNEL - 4H
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DOGECOIN / 4H TIME FRAME
HELLO TRADERS
The overall trend is downward , until trading below turning level at 0.102
The asset's price action suggests a potential downtrend as it currently trades below the key level of 0.102. This level often acts as a significant turning level , so trading below it indicates bearish momentum. A further decline to 0.094 is expected because it represents the next logical support level where buying interest might increase. If this level fails to hold, the price could drop to 0.084, a stronger support that might prevent further declines.
However, if the price can break above the 0.102 level and sustain that move, it would indicate a shift in market sentiment from bearish to bullish. This could lead to a rally towards 0.112, a resistance level that could attract selling pressure. A continued move higher might take the price to 0.121, where significant resistance could be encountered.
KEY LEVELS :
HELLO TRADERS
The overall trend is downward , until trading below turning level at 0.102
The asset's price action suggests a potential downtrend as it currently trades below the key level of 0.102. This level often acts as a significant turning level , so trading below it indicates bearish momentum. A further decline to 0.094 is expected because it represents the next logical support level where buying interest might increase. If this level fails to hold, the price could drop to 0.084, a stronger support that might prevent further declines.
However, if the price can break above the 0.102 level and sustain that move, it would indicate a shift in market sentiment from bearish to bullish. This could lead to a rally towards 0.112, a resistance level that could attract selling pressure. A continued move higher might take the price to 0.121, where significant resistance could be encountered.
KEY LEVELS :
- TURNING LEVEL : 0.102 .
- RESISTANCE LEVELS : 0.094 , 0.084 .
- SUPPORT LEVELS : 0.112 , 0.121 .
Đóng lệnh: đạt mục tiêu
reached first target .
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