Dogecoin Faces Risk of Deeper Pullback as Selling Pressure Builds
As of Thursday’s session, Dogecoin (DOGE) is down nearly 1%, extending the previous 3% decline and signaling that bearish momentum remains intact. On the 4-hour chart, DOGE continues to trade well below both the 50-period and 200-period EMAs, reinforcing a short-term downtrend structure.
Technical indicators also lean negative. The RSI hovers near 36 and continues to weaken, suggesting further downside room before reaching oversold territory. Meanwhile, the MACD remains below its signal line, with expanding negative histogram bars reflecting strengthening bearish momentum.
Key support is located at $0.08675. A confirmed breakdown below this level could open the door toward the $0.080 zone. On the upside, any recovery attempt may face resistance around the $0.098 (EMA50) and $0.1153 (EMA200) levels.
Long-Term Trade Scenarios (Risk-Managed Approach)
Buy Scenario (Accumulation Zone)
Entry: $0.080 – $0.086
TP1: $0.115
TP2: $0.140
SL: Below $0.072
Sell Scenario (If Breakdown Confirms)
Entry: Below $0.086 (4H close)
TP: $0.080 / $0.072
SL: Above $0.098
Always apply proper risk management and position sizing.
This content is for informational purposes only and not financial advice. Do your own research before making investment decisions.
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