Trading King

06/16 15:35

Dogecoin Stalled – What Should We Pay Attention To

Dogecoin Stalled – What Should We Pay Attention To?

Dogecoin has been in a vertical downtrend for the past few months, falling 5% in the last week and failing to recapture the February highs.

The chart remains in a downtrend with the price below the 200-day moving average and below a narrow resistance zone between $0.206 and $0.232.

Key Technical Signals

Ichimoku Kinko Hyo Trend: The price remains below the cloud while the pivot line continues to limit bounces. As long as Dogecoin trades within the cloud or, better yet, above it, sellers remain in the lead.

EMA Overlay: The short-term moving average is below the long-term moving average, confirming the downward momentum.

 Bollinger Bands Trend Reversal: The key is that the Bollinger Bands Index has turned positive from negative, indicating renewed buying interest.

Levels to Watch

Dogecoin needs to hold the $0.168 support to avoid further declines. The current reversal zone is located around $0.186. A break above $0.206 would be the first bullish signal, and further gains could push prices towards $0.232 and possibly $0.254 if momentum picks up.

Bearish Scenario: $0.168 remains at risk unless volume breaks above $0.186; a new 2025 low could be in sight if prices close below this support level.

 Bullish scenario: A clear daily close above $0.206 will turn the first resistance level into support, opening the way to $0.232, and a break above $0.254 could be in the offing if the subsequent volume occurs.

Dogecoin is currently in a range. Traders would like to see sustained price resistance above $0.206 or below $0.168 before a significant trend change occurs. IMG-20250615-WA0024.jpg

#Check In Daily, Win Prizes Daily — Join the Fun!#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge

4Share