DOGE/USDT 1H: Bears Eye $0.348 After Rejection at $0.37

DOGE/USDT 1H Chart Analysis (SMC Principles)
🚀 Follow me on Tradingview if you respect our charts 📈
Current Price: $0.35948

Market Structure:

• Bearish momentum with rejection from $0.37 resistance.
  
• Lower highs forming as price tests the equilibrium zone.
  

Key Levels:

• Resistance: $0.37 (premium zone).
  
• Support: $0.348 (discount zone).
  

Technical Indicators:

• RSI: 54.87, showing hidden bearish divergence.
  

Trade Setup (Confidence Level: 7/10):

• Entry Zone: $0.35948 (current price).
  
• Targets:
  
• T1: $0.355
  
• T2: $0.348
  
• Stop Loss: Above $0.362 (recent swing high).
  
• Risk Score: 7/10 (favorable R:R).
  

Smart Money Analysis:

• Institutional selling pressure visible at $0.37, suggesting distribution.
  
• Accumulation phase likely at $0.348, with market makers targeting liquidity below.
  

Recommendation:

• Short position recommended with clear invalidation above $0.362.
  
• For optimal entry, wait for a retest of $0.36 and monitor volume for confirmation.
  
• Confidence Level: 7/10 for downside continuation.
  

🚀 Follow me on Tradingview if you respect our charts 📈