【$DOGE Signal】Hold off on positions + Watch out for short squeeze risk

$DOGE has been closing higher on the 4-hour chart, but the price is approaching the EMA20 (0.0931) resistance, and the deep imbalance (0.98%) indicates increasing selling pressure.

🎯 Direction: Hold off on positions

Market analysis: The price rebounded over 6% from the low of 0.0878, but key data points suggest the rebound is fragile. The funding rate is -0.0030%, indicating negative funding, and open interest (OI) trend remains stable. Combined with a buy/sell ratio consistently below 0.5, this suggests the rally is mainly driven by short covering (short squeeze) rather than new buying interest.

Logical core: The current price (0.09349) is tightly hugging the EMA20, but the EMA50 (0.0970) above creates strong resistance. RSI at 48.71 is in a neutral to weak zone, indicating insufficient momentum for a sustained rebound. Order book depth shows significant ask orders stacked above 0.0935, while bid orders, though thick, are concentrated below the current price, representing passive defense. If the price cannot hold above EMA20, a pullback is highly likely.

Market psychology: This upward move, accompanied by a low buy/sell ratio and negative funding rate, is a typical short squeeze scenario. Without significant incremental funds (OI not increasing) and main force buying (Taker not buying), chasing longs is very risky. A healthy retracement (such as support around 0.0900-0.0910) with absorption of buy orders is needed to confirm a trend reversal.

Trade 👇 $DOGE

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