FX.co ★ rlemke | Cryptoanalytics from InstaForex

Analysis of DOGE/USDT The proposed strategy involves opening a long position on the DOGE/USDT pair at a price of $0.16375. To manage risks, it is recommended to set a stop-loss at $0.16195. This will help limit potential losses in case of adverse market developments. Current Market Situation On the 30-minute timeframe (TF), the cryptocurrency DOGE shows signs of consolidation around three key horizontal resistance levels. The daily trading volume is significantly increased, amounting to $670 million, which may indicate heightened market participant interest. Trend Analysis and Possible Scenarios The local trend for DOGE is upward, as current price lows do not fall below previous ones, and highs gradually increase, demonstrating buyer dominance in the market. The basis for entering the trade implies further accumulation of assets at resistance levels with a subsequent impulsive breakthrough. This should lead to triggering stop-losses placed behind the resistance levels and accelerating the price movement upwards.