$DOGE #MyCOSTrade Dogecoin price offers multiple sell signals as crypto pullback dims optimism for altcoin season

Technical outlook: What's next for Dogecoin as downside risk persists

Dogecoin price holds above the support provided by a recently broken descending trendline as shown on the daily chart below. Its technical structure exhibits a bearish bias, as evidenced by the Relative Strength Index (RSI) falling toward the midline after peaking at 85 during the rally to a five-month high of $0.2873.

If the RSI decline continues below the midline, it will indicate bearish momentum amid a significant reduction in speculative demand. The Moving Average Convergence Divergence (MACD) is on the verge of validating a sell signal. Traders will consider reducing exposure if the blue MACD line crosses and settles below the red signal line.

In the event the price extends the decline beyond the descending trendline, the 200-day Exponential Moving Average (EMA), the 100-day EMA and the 50-day EMA, all clustered in the range of $0.1996 to $0.2064, would serve as support to prevent the down leg from accelerating toward June lows of $0.1429.

DOGE/USDT daily chart