Falling DOGE Warns A Deeper Correction This Week
DOGE Price Falling Channel Breakdown: Dogecoin's price is experiencing a declining trend, indicating a potential ongoing bearish movement.
Rising Selling Pressure: Increasing selling activity is putting downward pressure on DOGE's price.
Critical Support at $0.082: Dogecoin is currently facing significant support around $0.082, a crucial level for its short-term price trajectory.
Potential Downslide to $0.070: If the $0.082 level fails, Dogecoin could slide further to reach around $0.070.
18% Drop in Three Weeks: Dogecoin has witnessed an 18% decline over the past three weeks, showing significant bearish momentum.
Sector-Wide Impact on Meme Coins: The drop in Dogecoin's price could have implications across the meme coin sector.
Bearish Engulfing Candle Formation: A recent 9.47% drop forms a bearish engulfing candle, suggesting a strong bearish trend.
Volume Increase Supports Downfall: The increase in trading volume alongside the price drop supports the bearish trend.
Technical Indicator - MACD: The MACD indicates a downward trend, aligning with the bearish market sentiment.
Technical Indicator - RSI: The RSI is nearing the oversold boundary, further supporting the bearish viewpoint.
Last Lines of Defense: DOGE's last defense points are at the $0.082 support level and the 200D EMA at $0.070.
Uncertain Future for DOGE HODLers: Long-term Dogecoin holders face uncertainty, while short-term traders might find opportunities in crucial level breakdowns.
Rising Selling Pressure: Increasing selling activity is putting downward pressure on DOGE's price.
Critical Support at $0.082: Dogecoin is currently facing significant support around $0.082, a crucial level for its short-term price trajectory.
Potential Downslide to $0.070: If the $0.082 level fails, Dogecoin could slide further to reach around $0.070.
18% Drop in Three Weeks: Dogecoin has witnessed an 18% decline over the past three weeks, showing significant bearish momentum.
Sector-Wide Impact on Meme Coins: The drop in Dogecoin's price could have implications across the meme coin sector.
Bearish Engulfing Candle Formation: A recent 9.47% drop forms a bearish engulfing candle, suggesting a strong bearish trend.
Volume Increase Supports Downfall: The increase in trading volume alongside the price drop supports the bearish trend.
Technical Indicator - MACD: The MACD indicates a downward trend, aligning with the bearish market sentiment.
Technical Indicator - RSI: The RSI is nearing the oversold boundary, further supporting the bearish viewpoint.
Last Lines of Defense: DOGE's last defense points are at the $0.082 support level and the 200D EMA at $0.070.
Uncertain Future for DOGE HODLers: Long-term Dogecoin holders face uncertainty, while short-term traders might find opportunities in crucial level breakdowns.