DOGE/USDT Increased by 4.30% - Breakthrough Momentum or Deception?

DOGE has once again attracted market attention, rising 4.30% to $0.41282 in a dynamic trading session. This price increase saw DOGE reach a 24-hour high of $0.41310, recovering from a low of $0.39240. The question remains: is this the beginning of a sustainable price increase or just another short-term spike? Market Overview Current price: $0.41282Highest in 24 hours: $0.4131024H Low: $0.39240Volume: DOGE: 1.14 billion USDT: $458.49 million The increase in DOGE's volume reflects the increasing market activity, indicating growing investor interest as the currency approaches important resistance levels. Main levels to keep track of Support level Immediate support level: $0.40805 - This level is crucial to maintain the upward momentum.Strong support: $0.40219 - Breaking below this level may indicate a shift in market sentiment. Resistance level Immediate resistance level: $0.41310 - The highest level in the last 24 hours is the main barrier for breakthrough. Breakthrough target: $0.42000 - Overcoming this level may pave the way for a stronger price increase. Technical analysis The momentum is increasingStrong recovery of DOGE from the lowest level in 24 hours indicates strong buying interest. If the price consolidates above $0.41310, the possibility of moving towards $0.42 is increasingly high.Sudden increase in volumeWith 1.14 billion DOGE traded in the past 24 hours, high activity supports the potential for continued growth. Maintaining volume will be crucial in confirming the breakthrough.Candlestick patternThe 15-minute chart shows consecutive green candles, reflecting the upward momentum. However, traders should monitor the possibility of consolidation before any decisive breakthrough. Trading strategy For Bulls Entry: Enter the buying position if DOGE closes above $0.41310 with large volume.Target: Set the target at $0.42–0.4250 in the short term.Stop loss: Set below $0.40800 to manage risk. For Bear Pay attention to the possibility of rejection at $0.41310. Open a sell position if the price drops below $0.40800, with a target of $0.40219 or lower. Key factors to pay attention to Volume and momentum: Continuous buying pressure plays a crucial role in pushing DOGE above $0.42. Market sentiment: Broader cryptocurrency market trends may influence DOGE's movements. Keep an eye on Bitcoin and Ethereum as they are market leaders. Psychological levels: If DOGE surpasses the $0.42 threshold, $0.43 could be the next milestone. What will be the next step for DOGE? The recent price increase of DOGE has energized traders, with many eyeing the breakthrough target of $0.42. Will this upward momentum hold or will there be a retreat? Share your thoughts and trading strategies below. 🚀 DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)