Technical analysis by NakamotoZzzz about Symbol DOGE: Sell recommendation (15 hour ago)

AI Trade Setup Analysis Timeframe: 4H (Four Hour) Position Type: Short (Sell) Entry Point: 0.2340 Positioned exactly between the stop loss and take profit zones, marking the breakdown entry level after price failed to hold prior support. Stop Loss (SL): 0.2460 Placed above the recent swing high and breakdown point to protect against a false breakout. Risk is approximately +5.13% from entry. Take Profit (TP): 0.2050 Target set at a key lower support level, offering a potential downside of around -12.39% from entry. Risk/Reward Ratio: 2.42 A solid setup with more than twice the reward compared to the risk. Technical Outlook: DOGEUSDT has broken below a support area after forming multiple lower highs, signaling increased selling pressure. This breakdown could lead to an acceleration toward the $0.2050 support if momentum persists. Bearish Scenario: Continuation of bearish momentum below 0.2340 could drive price toward 0.2050. Bullish Invalidation: A close back above 0.2460 would negate the breakdown setup and could trigger a reversal. Summary: This trade aims to capture a move following a confirmed support break, with a well-defined stop above resistance and a target at the next major support level, maintaining a favorable risk/reward profile.