Dogecoin (DOGE) Death Cross Gets Worse: What to Expect?

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Dogecoin's current market position is precarious, exacerbated by a deepening death cross. This bearish technical indicator, characterized by short-term moving averages falling below longer-term averages, suggests a slow and difficult price recovery.

DOGE is currently caught between significant support and resistance levels. The $0.14 level acts as a crucial resistance point; bulls must defend it to prevent a fall into an area lacking substantial long-term support.

While DOGE has experienced brief upward bounces, the overall momentum remains bearish. Indicators like the RSI reveal a lack of buying pressure, reinforcing the downtrend. A significant rally lacks sufficient impetus.

The broader cryptocurrency market shows little recovery, with many assets trading sideways. Meme coins like DOGE and SHIB are particularly struggling due to risk aversion and a lack of fundamental support.

For the foreseeable future, DOGE is likely to trade sideways between $0.14 and $0.20. A break below $0.14 would significantly worsen the situation due to the absence of strong support below that level. A drop towards $0.10 is possible if major investors liquidate holdings. Conversely, a bullish breakout above $0.20 would be key to initiating an uptrend. Read the original article on U.Today