$DOGE
🚨Dogecoin could extend its downleg if it closes below $0.18🚨
Dogecoin price closed below its 200-day Exponential Moving Average (EMA) at $0.21 on Thursday and declined by nearly 10% the next day. At the time of writing on Monday, it trades lower, approaching its weekly support at $0.18.
If DOGE corrects and closes below its weekly level at $0.18 on a daily basis, it could extend the decline to the next support level at $0.15.
The Relative Strength Index (RSI) on the daily chart reads 39, below its neutral level of 50, indicating bearish momentum. The Moving Average Convergence Divergence (MACD) indicator also displayed a bearish crossover, indicating a potential sell signal and a correction ahead.
If DOGE recovers, it could extend the recovery to retest its 200-day EMA at $0.21.