The price action over the next 1-2 hours will be important to determine whether buyers can maintain control above $0.08119 support and push higher to target supply zone #1. Alternatively, a breakdown below $0.08050 could mean the current consolidation is complete and bearish pressure may resume in the short-term. Traders should watch for any break of the defined supply and support levels for potential intraday trading opportunities.
For a more in-depth technical analysis across different timeframes, please click the link to view the identified levels of support and resistance, trends, and reversal patterns on the weekly, daily, and 4-hour charts.
1 Hour Timeframe
The 1 hour chart for DOGE/USDT is showing signs of consolidation after a period of downward movement. Price action is currently trading within a defined range between support zone #1 at $0.08105-$0.08189 and supply zone #1 at $0.08176-$0.08233.
If we look closer, we can see price recently tested the 50% Fibonacci retracement level of $0.08119 acting as near-term support. Holding above this level will keep upward momentum intact in the short-term. Below it, the 0.382 Fib level at $0.08050 will be the next support to watch.
On the supply side, price rejected from supply zone #1 but has since pulled back within the zone. A break above this zone, especially a daily closure above the high of $0.08233, could see some buying pressure return and a retest of supply zone #2 at $0.08304-$0.08403. This zone overlaps with the 61.8% Fib level and will be a key resistance barrier.
Support and Resistance Levels
S/R Type | High | Low |
Support Zone #1 | 0.08189 | 0.08105 |
Fibonacci Retracement Levels
0.382 | 0.08050 |
0.50 | 0.08119 |
0.618 | 0.08186 |
0.786 | 0.08282 |
0.882 | 0.08335 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 0.08233 | 0.08176 |
Supply Zone #2 | 0.08403 | 0.08304 |