Even after the Bloodbath of June 2021, the DOGE price never breached the support zone at $0.155. However, this new year the bears finally took this leap and dropped the price below this bottom support. The price is currently trying to sustain below this $0.155, which could lead to a further down rally in this coin.
Key technical points:
The DOGE price faces strong resistance from the 20-day EMA
The intraday trading volume in the DOGE coin is $1.59 Billion, indicating a 132.9% hike
Source-Tradingview
In our previous coverage of Dogecoin technical analysis, the coin price teased a bullish breakout of a double bottom pattern. However, the price failed to rise above the resistance trendline and resulted in a retracement and a downfall below the support zone between $0.16-$0.155.
Currently, the price shows higher price rejection from the support zone reflecting a retest of the bearish breakout.
The technical chart shows the crucial EMAs(20, 50, 100, and 200) are steadily sloping down
We współpracy z: https://coingape.com/doge-token-price-analysis-highly-influential-bearish-trendline-undermines-bullish-attempts-should-you-hold-at-such-times/
