DOGE market sentiment has clearly cooled down, after a high-level consolidation, it has started to weaken.
In terms of candlestick patterns, the arrangement of three black crows + a long black candle indicates that bears have the upper hand in the short term, MACD death cross is confirmed, and the green bars are increasing, with bearish momentum still being released. The Bollinger Bands are expanding, and the price is testing the middle band; if it can't hold here, the lower band around 0.25 will be the next testing point.
Key observation is whether the trading volume continues to shrink. If it breaks below the middle band, it is highly likely to continue to search for a bottom in the short term; if it can stabilize, it might even make another surge.
However, currently, both MACD and candlestick combinations are leaning bearish, and the market needs new catalysts to reverse the downward trend.
Of course, looking at Dogecoin shouldn't only focus on the technical aspect, sentiment and news can ignite the market at any time.
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