Dogecoin
Panjang

Analysis of DOGE/USDT Chart (4H timeframe) – March 24, 2025

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1. Key Technical Signals:
Ichimoku Cloud: Price has just broken above the Ichimoku Cloud after a long consolidation phase, giving an initial bullish signal. However, the future Kumo cloud has yet to expand strongly.

RSI (14): The RSI is currently around 66.98, approaching the overbought zone (70), suggesting strong bullish momentum but also warning of a possible short-term pullback.

MACD: The MACD line has crossed above the signal line, confirming bullish momentum. The histogram has turned green, supporting the upward move.

2. Elliott Wave Scenario (shown on chart):
The chart is projecting a 5-wave impulsive Elliott Wave pattern with the following target levels:

Wave 1: around 0.32319 USD

Wave 2 (correction): around 0.28997 USD

Wave 3: targeting 0.37091 USD

Wave 4: slight correction expected

Wave 5: final target around 0.43 USD

3. Key Resistance Levels:
0.323 USD: strong resistance and Wave 1 target.

0.37 USD: next major resistance and Wave 3 target.

0.43 USD: projected Wave 5 top.

4. Volume:
Volume is gradually increasing in recent sessions, indicating that buying pressure is returning to DOGE.

Trend Outlook:
Short-term trend (1-2 weeks): Bullish - likely breakout towards 0.323 - 0.37 USD following the Wave 1 and Wave 3 targets.

Medium-term trend: If price holds above the 0.29 USD support after Wave 2 correction, the medium-term outlook remains bullish with a target of 0.43 USD.

Caution: RSI approaching overbought may result in a minor pullback near 0.323 USD before further continuation.

Recommendation:
Consider entering long positions if price breaks and closes above 0.18-0.19 USD resistance zone and clears the Ichimoku Cloud.

Take partial profits near 0.323 USD (Wave 1) and look for re-entry opportunities on the Wave 2 pullback.

Suggested stop loss: below 0.17 USD (recent consolidation low).

Penafian

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