DOGE/USDT Analysis - Potential Short Setup

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DOGE/USDT Analysis - Potential Short Setup

1. Current Price Action:
The price is hovering around 0.402. A key rising trendline has been broken, signaling a potential bearish reversal.

2. Support and Resistance:
- Resistance: 0.418 → 0.438
- Support: 0.402 → 0.384

3. EMA200 (4H):
The price is sitting just above the EMA200. A break below this level would confirm further downside potential.

4. Supertrend:
The Supertrend indicator is bearish, aligning with the downward momentum.

Trade Setup:
- Short trigger: If the price breaks below 0.402 with confirmation (strong volume).
- Stop-loss: 0.418 (resistance area).
- Take-profit: First target at 0.384, with potential continuation lower.

Key Notes:
- Watch for volume confirmation on the break of 0.402.
- EMA200 is critical: a break below it would strengthen the bearish bias.
- If bulls reclaim 0.418, this setup becomes invalid, and a move toward 0.438 may follow.

Trade safe and manage risk carefully! 🚨