$DOGE has been showing continuous positive candlesticks on the 4-hour chart, but the price is nearing the EMA20 (0.0931) resistance, and the depth imbalance (0.98%) indicates that selling pressure is accumulating.
🎯 Direction: No position
Market Analysis: The price rebounded over 6% from the low of 0.0878, but key data combinations point to the fragility of the rebound. The funding rate of -0.0030% is negative, and the open interest (OI) trend is stable, combined with the buy/sell ratio consistently below 0.5, indicating that the rise is mainly driven by short covering (squeezing) rather than new long positions actively entering the market.
Logical Core: The current price (0.09349) is close to the EMA20, but the upper EMA50 (0.0970) constitutes strong resistance. The RSI at 48.71 is in a neutral to weak area, indicating insufficient rebound momentum. The order book depth shows that sell orders (Asks) are significantly piled up above 0.0935, and although buy orders (Bids) are thick, they are concentrated below the current price, indicating passive defense. If the price cannot stabilize above the EMA20, it could easily trigger a pullback.
Market Sentiment: This rise is accompanied by a low “buy/sell ratio” and a negative funding rate, which is a typical bear squeeze market. In the absence of significant incremental funds (OI not increasing) and major buyer activity (Taker not buying), the risk of chasing long positions is extremely high. The price needs a healthy pullback (such as the 0.0900-0.0910 support zone) accompanied by buy absorption to confirm a trend reversal.
Trade here 👇$DOGE
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