DOGE/USDT 1H: Bulls Eyeing $0.42!!

DOGE/USDT 1H Chart Analysis (SMC Principles)
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Current Price: $0.37924

Key Points:

• Strong bullish momentum after breaking the equilibrium zone.
  
• RSI at 59 indicates strength with room to move higher.
  
• Break above the previous fair value gap (FVG) at $0.365.
  
• Premium zones identified at $0.40-$0.42.
  

Trade Setup:

• Entry Zone: $0.378-$0.380
  
• Targets:
  
• T1: $0.40 (premium zone).
  
• T2: $0.42 (major resistance).
  
• Stop Loss: Below $0.365 (recent FVG).
  

Market Maker Analysis:

• Accumulation phase completed at $0.34-$0.35.
  
• Likely distribution zone above $0.42.
  
• No significant divergences present, supporting the bullish case.
  
• Risk Score: 7/10 (favorable risk-to-reward setup).
  

Recommendation:

• Long positions favored with a confidence level of 8/10.
  
• Monitor for sustained volume and breakout confirmations above $0.40.
  
• Conservative position sizing advised due to broader market conditions.
  
• Confidence Level: 8/10 for bullish continuation.