$DOGE
🚨 Dogecoin Technical Analysis as $0.21 Support Holds 🚨
Dogecoin price is facing a steep decline as it fluctuates within a descending parallel channel on the four-hour chart. A breakout from the lower trendline will trigger a decline to $0.17 and wipe out the recent gains that Dogecoin made after Bitcoin broke above $100,000.
The Chaikin Money Flow indicator highlights that buying pressure is surging again after a steep decline towards the zero line. If the CMF continues to rise, it will show a drastic rise in buying activity that will catalyze Dogecoin’s uptrend.
Moreover, the price fluctuations within the Bollinger bands highlight that Dogecoin might record a correction in the near term. After dropping to the lower Bollinger band and defending this support level, DOGE may bounce back to the midline of the descending channel and ascend back to $0.23.
