Recently, the DOGE futures market has experienced increased volatility. Technical analysis indicates that Dogecoin may face downward pressure, with some analysts suggesting a potential pullback to the $0.06 level. Once this news broke, market sentiment was noticeably impacted, and the investment enthusiasm generated by the previous ETF craze has gradually cooled.

From a current technical perspective, DOGE is trading at $0.137876, with an RSI indicator of 47.1, indicating that the bulls and bears are still in a tug-of-war and no clear direction has formed yet. Looking at the price structure, the support level is around $0.128225, with resistance above at $0.147527. If it can effectively break above $0.144770, there is still a short-term possibility for further upward movement, but given the current market environment, this is not easy.

Honestly, in such a highly uncertain situation, it’s easy to be influenced by market sentiment. FOMO may gradually turn into caution, and traders will become more cautious. At this point, the importance of position management becomes evident.

My approach is to first cut my position in half to lock in some profits, while setting a stop-loss at $0.125 to control downside risk. The target above is $0.15, which allows for some profit retention while maintaining enough liquidity to respond to subsequent changes. Although I feel a bit itchy to trade, it’s really necessary to stay calm and not be led by market fluctuations.

What do you all think about this wave of market? Feel free to share your opinions.