The current DOGE/USDT trading pair is at a critical Node for Technical Analysis. The price is hovering around 0.223, with a clear obstacle at the resistance level of 0.227 above, while the important support levels are at 0.219 and 0.212 below. Although the technical indicator MACD shows a death cross pattern, the price has not yet broken below the key support line, suggesting that the longer are still accumulating strength.
Market clearing data shows that there are a large number of short positions in the range of 0.225 to 0.234. If the price breaks through 0.227, it may trigger a short squeeze, pushing the price further up. However, there is also a long liquidation risk in the range of 0.212 to 0.219. If negative news occurs, it may lead to a chain reaction of falls.
Tonight at 20:30, the US will release initial jobless claims and GDP revision data, which may have a significant impact on the market. If the data shows economic weakness (rising unemployment rate or GDP downgrade), it may strengthen expectations for a Federal Reserve interest rate cut, which would be favorable for DOGE to break through the 0.227 resistance level and even challenge 0.235. Conversely, if the data shows strong economic performance, DOGE may face the risk of a pullback, potentially falling below the 0.219 support level.
Currently, the number of open contracts remains high, indicating that market participants' emotions are highly sensitive. Regardless of the direction in which the price breaks out, it may trigger significant market volatility. Investors should closely monitor price trends and upcoming economic data, and manage risks accordingly.
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InfraVibes
· 08-31 10:56
Wait to watch the show at 20:30
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DeadTrades_Walking
· 08-31 01:34
Once again waiting for a breakthrough.
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NFTHoarder
· 08-30 18:24
Fall, let it fall. After all, I won't back down and play people for suckers.
View OriginalReply0
ThesisInvestor
· 08-28 13:51
Bought a loneliness!
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LiquidityOracle
· 08-28 13:50
Are the long positions getting started while everyone is asleep?
The current DOGE/USDT trading pair is at a critical Node for Technical Analysis. The price is hovering around 0.223, with a clear obstacle at the resistance level of 0.227 above, while the important support levels are at 0.219 and 0.212 below. Although the technical indicator MACD shows a death cross pattern, the price has not yet broken below the key support line, suggesting that the longer are still accumulating strength.
Market clearing data shows that there are a large number of short positions in the range of 0.225 to 0.234. If the price breaks through 0.227, it may trigger a short squeeze, pushing the price further up. However, there is also a long liquidation risk in the range of 0.212 to 0.219. If negative news occurs, it may lead to a chain reaction of falls.
Tonight at 20:30, the US will release initial jobless claims and GDP revision data, which may have a significant impact on the market. If the data shows economic weakness (rising unemployment rate or GDP downgrade), it may strengthen expectations for a Federal Reserve interest rate cut, which would be favorable for DOGE to break through the 0.227 resistance level and even challenge 0.235. Conversely, if the data shows strong economic performance, DOGE may face the risk of a pullback, potentially falling below the 0.219 support level.
Currently, the number of open contracts remains high, indicating that market participants' emotions are highly sensitive. Regardless of the direction in which the price breaks out, it may trigger significant market volatility. Investors should closely monitor price trends and upcoming economic data, and manage risks accordingly.