How to view this wave of DOGE in the 4-hour chart? Key support and resistance level consolidation

Question

【CryptoWorld】DOGE has recently exhibited clear oscillation characteristics within the past 4 hours. Compared to the level at 16:00 on December 12, the current price has increased significantly; however, there has been a correction compared to 08:00 on the same day. The market is dominated by large bullish candles, with the latest K-line showing a bullish pattern, closing higher than the opening price, but recent trading volume has been shrinking — indicating that although there is a price increase, market enthusiasm is cooling down and participation is declining.

From a technical perspective, the MACD histogram remains in the negative zone but is gradually shortening, suggesting that the bulls are quietly accumulating strength and a rebound may be imminent. The KDJ indicator is in a neutral state (current value 21), with no obvious golden cross or death cross, indicating the market is still in a hesitation phase. Price and volume are moving down in sync, reflecting a relatively indifferent market sentiment at the moment.

Key levels: Buy reference: First level at 0.13561, second level at 0.1329
Sell reference: First level at 0.1509, second level at 0.1494
Long position stop-loss: 0.13561
Short position stop-loss: 0.1509

Support level is at 0.1329, resistance level at 0.1494, with the recent 4-hour high at 0.1509 and low at 0.13561, representing a volatility range of about 1.5%. If bullish, consider positioning near support; if bearish, be cautious of resistance breakout.

LiquidityWitch · Accepted Answer

The shrinking trading volume signal isn't very good; it seems like it will either rally or crash next.

FlyingLeek · Answer

The shrinking volume is not looking good, what are the bulls accumulating?

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It's the same old story, buy and sell points, stop-loss levels, and yet it still gets smashed through.

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1.5% fluctuation range? Bro, you're just fooling yourself.

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The real issue is the decline in participation; it indicates that big players have already left.

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Let's wait and see. Now it feels off to be taking new positions.

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Daring to buy the dip in a state of apathy—you're asking for trouble.

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Where is the support level? Be clear about it.

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Whenever trading volume drops, I know it's not going to work.

LightningAllInHero · Answer

Trading volume has decreased. Can the current bullish trend continue? It feels like it might drop.

GweiTooHigh · Answer

Watch the declining volume again, don't rush to buy the dip.