CandleFocus Dogecoin (DOGE) Price at Risk: Bearish Indicators Signal Downtrend Ahead
2024-10-03
Author: Content Editor
The Dogecoin (DOGE) price is showing signs of a potential downtrend, according to technical indicators such as the Aroon indicator and the Chaikin Money Flow. The Aroon indicator reflects a strong bearish trend with minimal buying interest or bullish momentum. The Chaikin Money Flow suggests mild bearish momentum, with selling pressure outweighing buying pressure. Additionally, the short-term exponential moving average (EMA) lines are crossing below the long-term EMA lines, indicating a possible shift toward a bearish trend. If the downtrend continues, DOGE could test support levels around $0.097, with further key levels at $0.088 and $0.080. However, if the trend reverses, DOGE could retest resistance levels at $0.108 and $0.11.
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