$DOGE has continuously closed positive on the 4-hour level, but the price is approaching the EMA20 (0.0931) resistance, and the depth imbalance (0.98%) shows that selling pressure is accumulating.
🎯 Direction: Flat
Market Analysis: The price has rebounded more than 6% from the low of 0.0878, but the key data combination indicates the fragility of the rebound. The funding rate of -0.0030% is negative, and the open interest (OI) trend is stable. Combined with the buy/sell ratio consistently below 0.5, this suggests that the rise is primarily driven by short covering, rather than new long positions entering actively.
Logical Core: The current price (0.09349) is closely aligned with EMA20, but the upper EMA50 (0.0970) poses strong resistance. The RSI at 48.71 is in a neutral to weak zone, indicating insufficient rebound momentum. The order book depth shows that sell orders (Asks) are noticeably piled up above 0.0935, while buy orders (Bids), although thick, are concentrated below the current price, indicating passive defense. If the price fails to hold above EMA20, a pullback could easily occur.
Market Sentiment: This rise is accompanied by a low “buy/sell ratio” and a negative funding rate, characteristic of a typical short squeeze market. In the absence of significant incremental capital (OI not rising) and major buying (Taker not buying), the risk of chasing longs is extremely high. The price needs a healthy retest (such as the 0.0900-0.0910 support zone) along with buying absorption to confirm a trend reversal.
Trade here 👇$DOGE
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