#DOGEUSDT – Short Setup from Key Supply Zone

#DOGE

The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary, heading towards a breakout. A retest of this boundary is expected.

The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.

There is a key resistance zone (in green) at 0.07490, which the price has bounced off several times, making it a strong support level.

A consolidation trend is observed above the 100-period moving average, which we are approaching. This trend supports a decline towards this level.

Entry Price: 0.07060
Target 1: 0.06937
Target 2: 0.06839
Target 3: 0.06717

Stop Loss: At the resistance zone (in green).

Remember this simple rule: Manage your money wisely.

For any questions, please leave a comment.

Thank you.