DOGEUSDT likely to head to daily support around 0.735

On lower time frame, it seems the price wants to revisit the daily support from where it has bounce a couple of time in past week. The price was rejected from the confluence of weekly and 4h resistance current trading below it. I think the probability of it hitting the daily support DS1 is high and therefore a long is not favorable here.

Trade closed: target reached:

The price hit the daily support DS1 according to our expectation. Though price retested the confluence of daily and 4h resistance DR1+4HR1 again giving another and better opportunity for the short trade. After that it got rejected from that resistance and headed towards daily support DS1. And again according to our expectation, the price bounce from that support. Though the bounce currently is not that significant. We will see how it goes.