Dogecoin Faces Head & Shoulders Risk Inside Rising Channel 🐶📉

$DOGE slipped over 10% today, trading near $0.238 after failing to sustain momentum above $0.26. On the daily chart, the broader ascending channel since May still shows higher lows, but the emergence of a Head & Shoulders setup is tilting momentum against the bulls.

The neckline at $0.218–$0.220 is likely to give way in the coming sessions, confirming the bearish pattern. Once broken, downside targets open toward $0.197, with deeper extensions possible to $0.15 and $0.14 if selling pressure accelerates.

Indicators highlight weakness: 📊

RSI sits at 45, the same zone where bulls rescued the price twice earlier this year. Another failure here risks dragging RSI toward oversold territory.

MACD has turned bearish with a downward crossover, signaling fading momentum.

DMI shows sellers still holding control, with –DI above +DI.