Binance DOGEUSDT 10m Trend Prediction

DOGEUSDT has recently been oscillating downward, with the price approaching the lower Bollinger Band, indicating significant short-term selling pressure. The moving averages across various periods do not form a clear bullish alignment, and the price is well below the 200-period moving average, suggesting the trend has not yet reversed. The RSI indicator across multiple timeframes is in the oversold zone, particularly the short-term RSI12 at only 19.13, showing minimal rebound attempts from the bulls and that sellers still dominate the market. The overall MACD and DEA are negative, with no signs of reversal in the MACD line, indicating continued short-term bearish momentum. The KDJ indicator is extremely weak, combined with DMI where dmi_minus significantly exceeds dmi_plus and the ADX is relatively high, further confirming a downward trend. The current risk of a long position is very high. Despite the large traders’ long-short holdings ratio reaching 4.2, active buying volume in the order book is insufficient, and the genuine market follow-up buying appetite is limited, resulting in a lack of rebound strength. The candlestick chart shows a gradual retreat from higher levels, hovering along the lower boundary of the range, with volume not supporting a strong move, increasing the likelihood of short-term downward testing of support at 0.22800. From support and resistance levels, the current price faces downward pressure at S1 (0.22895). If broken, further downside prospects are likely to open. It is recommended to adopt a bearish operation mode on the 10-minute timeframe, with target zones between 0.22800 and 0.22900. Trading advice: Light short positions when the price rises; if the price effectively breaks below 0.22895, consider adding to the short. Stop-loss should be set above 0.23050 (near previous high volume trading zones). If back-testing fails to break lower, then consider observing.