DOGE Technical Analysis: Will The Memecoin Sustain Reversal Rally?

DOGE prices fail to sustain a bullish rally and consolidate as the bearish influence grows gradually. So, should you expect a downtrend continuation? Key technical points: DOGE price consolidates between $0.093 and $0.085. The bearish influence on consolidation warns of a double top pattern. The 24-hour trading volume of Dogecoin is $633 Million, indicating a slight fall of 0.63%. Past Performance of DOGE DOGE prices break under the crucial psychological support level of $0.10 after a bullish failure to surpass the $0.1160 level. The reversal rally cracking under the psychological milestone takes support at $0.070, resulting in a 35% within 48 hours. However, the long-tail formations at $0.070 provide a launchpad for a bullish reversal that tests the $0.0934 mark. Source-Tradingview DOGE Technical Analysis The formidable selling pressure growing over the market influences the DOGE prices under consolidation and forms a double top pattern. However, the resurgence of lower price rejection with long-tail formations provides a bullish reversal opportunity. The overall trend remains bearish for Dogecoin, evident by the descending alignment of the 50, 100, and 200-day EMAs providing resistance to bullish attempts. The sharp reversal in RSI values from the oversold territory trends higher, with the yellow line representing the 14-days average. Moreover, the RSI reflects a bullish divergence in the last two dips at $0.085, increasing ...