$DOGE Battles Critical Support as MACD and RSI Show Weakness

#Dogecoin is currently consolidating just above a critical support zone near $0.170, following a multi-day selloff. The 1-day chart shows continued downward pressure, with price action struggling to reclaim key exponential moving averages. Both the 9-day and 20-day EMAs remain in a bearish alignment, reinforcing a short-term negative trend.

Momentum indicators offer little relief. The MACD histogram is still in negative territory, though the rate of bearish momentum is starting to slow—hinting at a possible shift if buying pressure returns. Meanwhile, RSI has lifted modestly from oversold conditions but remains below 50, suggesting that bulls have yet to regain control.

The next few sessions will be key. A breakdown below support could open the door to deeper levels near $0.167 or even $0.157. On the flip side, a sustained move above $0.17799 might signal the start of a reversal.

📊 This is a crucial period for #DOGE , with price action and indicator behavior pointing to a potential inflection point. Traders should monitor closely for confirmation before positioning.

Read the full analysis: www.ecoinimist.com/2025/06/06/doge-battles-critical-support-level