Dogecoin (DOGE/USD) loses $0.09

  • Dogecoin Loses 15% in Week Amid Bear Market

  • Lack of positive fundamentals plagues memetic cryptocurrencies

  • DOGE Confirms Bullish Reversal As Candlestick Closes Above $0.09

if i was aiming buy dogecoin (DOGE/USD), you probably aren’t sure if you will anymore. With a weekly loss of 15%, DOGE has the biggest losses among the top 10 cryptocurrencies. Especially now that DOGE is below $0.09, it could be a bit more troubling. This is a key support that the bulls could have been looking to buy his DOGE on the retracement. But DOGE still thinks it’s not bearish.

Fundamentally, I am skeptical of DOGE because memetic tokens have no major bullish triggers. Initially, DOGE was excited about the potential announcement of his Twitter as a means of payment. Speculation has cooled as Elon Musk has yet to give any formal indications or joke about the topic. It reflects the possibility of letting go of the position. Cryptocurrency news. As the bear market continues, it is reasonable to expect DOGE to fall as well.

DOGE Technical Analysis When Price Breaks Below Support

BNB/USD chart by TradingView

Looking at the technical side, DOGE is trading on the level of success or failure. The MACD shows bearish momentum, but the indicator remains above the neutral zone.

Despite the break below the $0.09 support, buyers are resisting a fall to $0.084. DOGE can see a bullish reversal signal via pinbars if the daily candlestick closes above his $0.09.

Is DOGE getting bullish?

From technical analysis dogecoin you can go either way. A bullish pinbar at the $0.09 support could allow the bulls to dominate the cryptocurrency and push it back to $0.11.

Conversely, if the daily candlestick closes down, more action is needed. In a bearish scenario, the bears could take the lead and push DOGE down. A price of around $0.07 remains on the horizon.



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