Technical analysis by Jixsetups about Symbol DOGE: Sell recommendation (12/15/2024)

DOGE/USDT Analysis - Potential Short Setup1. Current Price Action: The price is hovering around 0.402. A key rising trendline has been broken, signaling a potential bearish reversal. 2. Support and Resistance: - Resistance: 0.418 → 0.438 - Support: 0.402 → 0.384 3. EMA200 (4H): The price is sitting just above the EMA200. A break below this level would confirm further downside potential. 4. Supertrend: The Supertrend indicator is bearish, aligning with the downward momentum. Trade Setup: - Short trigger: If the price breaks below 0.402 with confirmation (strong volume). - Stop-loss: 0.418 (resistance area). - Take-profit: First target at 0.384, with potential continuation lower. Key Notes: - Watch for volume confirmation on the break of 0.402. - EMA200 is critical: a break below it would strengthen the bearish bias. - If bulls reclaim 0.418, this setup becomes invalid, and a move toward 0.438 may follow. Trade safe and manage risk carefully! 🚨