Dogecoin Rally Fizzles As DOGE Fails To Break Through 4-Hour SMA Resistance
Author: Content Editor
The article discusses the current market outlook for Dogecoin (DOGE). Despite initial signs of a rebound, DOGE has been unable to surpass the 4-hour Simple Moving Average (SMA), indicating that bullish momentum is fragile. The dominance of sellers suggests that buyers may struggle to regain control and push the price higher. The Relative Strength Index (RSI) also indicates a bearish trend, with the RSI line staying below the 50% threshold. This implies that selling pressure is prevailing over buying activity. Key support and resistance levels are highlighted, with the $0.3066 support level being tested. If DOGE falls below this, it may head towards $0.2677, reflecting downside risks. On the upside, breaking above the 4-hour SMA and reaching the $0.3563 resistance level could pave the way for further upward movement.