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Recently, $DOGE has fallen by 2.62% in the last 24 hours, currently hovering around $0.0836. I'm currently neutral-to-bearish in the short term.
My main reason is the visible rejection we saw on the daily chart. After the local top at $0.11854, DOGE plummeted to a bottom of $0.06736. We recently saw a relief bounce, but it got firmly rejected around the $0.10 level. Looking at the indicators, price is now trading below the EMA10 ($0.08598) and is sandwiched right around the EMA30 ($0.08318). The MACD is also showing negative momentum with the histogram sitting at -0.00076 and OBV trending downward, which suggests the buying pressure hasn't returned yet.
Next, I'll be watching the $0.083 support level very closely. This aligns with the EMA30 and is the last line of defense before a potential slide down to the lower Bollinger Band at $0.07966. On the upside, DOGE needs to reclaim the $0.086 resistance (EMA10) to invalidate this bearish bias and potentially retest the $0.093 upper Bollinger Band.
Where do you see DOGE heading next? 👇