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DOGE has performed well recently, showing a strong rise momentum. From a Technical Analysis perspective, the 4-hour chart shows that DOGE has broken through the middle band of the Bollinger Bands, surging to the upper band near $0.234. The MACD indicator has turned positive, and the Trading Volume has also increased, all of which are clear signals of long positions dominance.
However, investors need to be aware that since the price is close to the upper band of the Bollinger Bands, a slight pullback may occur in the short term. The key support level is in the range of 0.226-0.228 dollars, which will be an important position to observe whether the market can stabilize.
From the perspective of capital flow, DOGE has seen a net inflow of over 42 million USD recently, reflecting relatively optimistic market sentiment. Coupled with the overall warm atmosphere of the cryptocurrency market, this provides favorable conditions for DOGE's recent rise. In summary, there is still room for the long positions trend to continue, but investors need to be cautious in timing when chasing higher prices.
For investors who intend to participate, the following strategies can be considered:
1. Aggressive Strategy: Long positions can be established in the range of $0.231-$0.233, with the initial target price looking towards $0.238-$0.240, and the stop loss can be set below $0.228.
2. Conservative strategy: patiently wait for a pullback to the 0.226-0.228 USD range to enter with low buys, set the stop-loss at 0.223 USD, and aim for a target price of 0.238 USD. If it can break through this price level, the target can be further extended to around 0.245 USD.
Regardless of the strategy employed, it is important to keep in mind the significance of risk management, to set stop-loss levels appropriately, and to adjust strategies promptly according to market changes.