Dogecoin (DOGE) Analysis: Double Top Signals Bearish Move

6 hari yang lalu

hello guys!

Double Top Formation:
The chart clearly shows a double-top pattern, which is a strong bearish reversal signal.
The break below the neckline confirms the downtrend continuation.

Bearish Divergence on RSI:
The RSI showed divergence, meaning the price made a higher high, but the RSI made a lower high.
This signals weakening momentum and a likely correction.

Support Levels (S1 & S2):
S1 (around $0.22) might provide temporary relief, but the main target is lower.
S2 ($0.176 - $0.18) aligns with the double top target, making it a critical support zone.

Potential Price Scenarios:
If DOGE fails to hold at S1, the price may drop to S2, completing the pattern.
A strong rebound from S2 could trigger a bullish recovery.

Conclusion:
The double top breakdown suggests further downside toward $0.176 - $0.18, which could act as a strong support level. Until a clear reversal signal appears, the bearish trend remains dominant. Traders should watch these levels closely! 🚨📉

5 hari yang lalu

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