Dogecoin's current pullback is a normal correction of the uptrend since 0.11612. Currently, it is constructing a 30-minute pivot point. The market is still expected to continue testing the new high at 0.15656.
The effective support level is currently in the 0.1365-0.138 range, which is a position that bulls must hold. The closer to this level for entry, the better the risk-reward ratio.
The two trend lines shown in the chart are my personal predictions based on the current structure and are not necessarily 100% aligned with the market. They only serve as directional guidance: either the black line goes directly to a new high, or the red line completes a standard 30-minute pivot point through oscillation before breaking away. This depends on the influence of Bitcoin and the strength of Dogecoin's own 5-minute structure.
Dogecoin's current pullback is a normal correction of the uptrend since 0.11612. Currently, it is constructing a 30-minute pivot point. The market is still expected to continue testing the new high at 0.15656.
The effective support level is currently in the 0.1365-0.138 range, which is a position that bulls must hold. The closer to this level for entry, the better the risk-reward ratio.
The two trend lines shown in the chart are my personal predictions based on the current structure and are not necessarily 100% aligned with the market. They only serve as directional guidance: either the black line goes directly to a new high, or the red line completes a standard 30-minute pivot point through oscillation before breaking away. This depends on the influence of Bitcoin and the strength of Dogecoin's own 5-minute structure.