DOGE/USDT Weekly Chart Analysis 
2024-12-17
Category: None

DOGE/USDT Weekly Chart Analysis 

The price is currently close to 0.236 (0.38625), showing resistance.
A break below this level could lead to a retracement towards the 0.618 support (0.22239).

Price rejection at the top of 0.48748 indicates exhaustion after a strong uptrend.
The red arrow highlights a potential pullback to the green support area near 0.22–0.27.

The upward movement broke a key descending trendline, confirming a bullish reversal.
However, support could come from a retest of the trendline and 21 EMA (black line) around 0.22.

Short Entry: Confirmed below 0.38.
Target: 0.27–0.22 area (key Fibonacci support).
Stop Loss: Above 0.42 resistance.

Long-Term Bullish Zone:

Re-entry for longs around 0.618 Fibonacci (0.22) if support holds.

Conclusion:
DOGE/USDT is at risk of retracement to the Fibonacci Golden Pocket (0.618 area) after an overly extended rally. Look for confirmation of a breakdown below 0.38 and retest opportunities near 0.22 for a bullish setup. 

DYOR, NFA

@Peter_CSAdmin