- DOGE has reacted near a key supply zone after grabbing liquidity below and above, confirming market efficiency
- Liquidity remains untested below, favoring a cautious approach to buying and reinforcing the preference for selling opportunities
- Patience is key: wait for DOGE to fully engage with supply or liquidity levels before acting
In yesterday’s analysis, we discussed how DOGE was positioned with liquidity both above and below its current price.
So, what happened next? The demand zone didn’t hold up, and DOGE dropped to grab the liquidity below before catapulting upward to capture the liquidity overhead.
As of now, the price has reacted near the supply zone we highlighted in our previous analysis.
Buying or Selling DOGE?
If I were to choose, my preference would be to sell DOGE rather than buy it. Why? The market has left too much liquidity below, and that’s a magnet for price action. Ignoring that would go against my trading principles.
A vital part of any solid trading plan is recognizing when to stay out of the market. For me, the rules are simple:
- Never buy when there’s significant liquidity below the price.
- Never sell when liquidity remains untested above the price.
What’s Next for DOGE?
Although the supply zone hasn’t been fully touched, it’s been brushed. Personally, I’d prefer to see the price make a definitive move into the zone before I consider a sell position. Why rush? Patience often makes the difference between a successful trade and a regrettable one.
That said, if the price continues to rise without grabbing the liquidity below, it’s simply not a move I’d trade. Staying disciplined and sticking to a strategy is what separates informed traders from impulsive ones.
Key Takeaways
DOGE is currently in a phase of indecision, hovering near a supply zone with liquidity both above and below. While it’s tempting to anticipate the next big move, the price could easily continue its unpredictable trajectory.
Using breakeven strategies and protecting your positions is essential in times like these. The scenarios I’ve outlined are possible, but remember—this is the market, and surprises are part of the game.
Final Thoughts
DOGE’s journey continues to be an exciting one, filled with twists and turns. For now, my focus remains on that supply zone and the untouched liquidity below. Whether the price respects these levels or surprises us, one thing is certain: Staying prepared and managing risk will always be the smart choice.
Keep your strategies sharp and your patience sharper. Let’s see how DOGE evolves from here!
Disclaimer: The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions.
