On the 1-hour timeframe, DOGE/USDT faces resistance in the mentioned supply zone and Fibonacci retracement levels will be crucial to watch. A break above 0.08105 resistance is needed to assume upside continuation, while below 0.07710 turns the bias bearish. Near term direction depends on break of this range.
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
Price is currently finding resistance in the 0.08189-0.08105 zone. This zone needs to be broken for the upside momentum to continue.
Immediate support lies at the 50% Fibonacci retracement level of 0.07801. Below this, further support exists at 0.07710.
A supply zone has been formed between 0.08020-0.07900. Price is currently hovering around the lower limit of this zone, facing resistance.
Additional Fibonacci retracement support levels are 0.07893 and 0.08024. These price levels will need to hold for the short term bearish pressure to ease.
The narrow trading range in the past few hours indicates indecision in the market. A break on either side will provide additional clarity on future direction.