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$DOGE /USDT Analysis: Is the Bottom In, or Are Bears Still in Control? 📉
Looking at the 4-hour chart in 1000159868.png, Dogecoin (
$DOGE ) has been under significant selling pressure. The price dropped to a 24h low of $0.08579 before experiencing a slight intraday bounce to its current price of $0.08911, marking a -3.62% decline.
Key Technical Observations from 1000159868.png:
Bearish Trend Alignment: The price is trading below all major moving averages. It is fighting to reclaim the MA(7) at $0.08998, while the MA(25) at $0.09533 and MA(99) at $0.10038 are acting as heavy overhead resistance zones.
Volume Activity: We saw a notable spike in selling volume during the recent drop to $0.08579, indicating strong capitulation. The current green candle shows minor buying interest, but the overall volume remains low on the bounce.
Critical Levels: The immediate support to watch sits firmly at the recent low of $0.08579. If bulls fail to hold this level, further downside could clear. Conversely, a breakout above the MA(7) ($0.08998) is required to trigger a short-term relief rally toward $0.094.
Are you buying this dip, or do you think
$DOGE has lower levels to test? Drop your thoughts in the comments! 👇
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