DOGE Price Struggles to Recover as Volume Declines 36%
Dogecoin (Doge) prices have barely moved in the past 24 hours, down about 3%. Despite the purchase of $370,000 by Neptune’s digital asset, its trading volume fell 36% to $1.65 billion. Prices have been trapped below $0.33 in the past week, struggling to gain bullish momentum.
Technical indicators continue to show bearish settings, with Ichimoku cloud and EMA lines enhancing downside risk. Unless Doge can break the key resistance level, the trend remains weak, leaving room for further decline.
Ichimoku Cloud shows Doge’s bearish outlook
Dogecoin Ichimoku Cloud The chart shows a bearish outlook, with prices trading below the cloud. The clouds in the future are still red, and the signal continues to be downward, indicating that resistance levels may remain strong in the near term.
The conversion line (blue) is currently moving sideways near the baseline (red), indicating a period of consolidation rather than a direct trend reversal.
But, due to Canadian cryptocurrency companies, bearish sentiment still dominates despite the price failing to exceed these limits, Neptune Digital Asset announced it has purchased $350,000 worth of In December.
In addition, the lag span (green) is located below the price action, confirming Door price Still on a downward trend. The cloud ahead is tilting downwards, enhancing the possibility that bearish momentum can last.
If the baseline flattens when the conversion line moves upward, it may indicate a potential trend change, but now, Doge Still in a weak position, with no clear signs of recovery.
Dogecoin bbtrend is still negative, but up
Dog BBTREND is currently -21.7 and has remained shadowed for the past two days. It peaked at -26.1 yesterday before it started losing strength, indicating that bearish momentum is still there, but slightly weak.
BBTREND is an indicator that can measure trend intensity based on Bollinger bands. Positive values indicate bullish momentum and negative values indicate bearish trends. The farther the value comes from zero, the stronger the trend in both directions.
As Doge’s BBTREND is now -21.7, down from yesterday’s -26.1, suggesting that while the downtrend remains the same, sales pressure is starting to ease. The continued movement of BBTREND may indicate that bearish momentum is disappearing, potentially leading to a consolidation or relief rebound.
However, as long as BBTrend remains negative, the overall trend remains bearish, meaning Door price Unless a larger change in momentum occurs, there may be an effort to gain a lot of upside traction.
DOGE price forecast: Will Doge surge and break the $0.36 resistance this time?
The Dogecoin EMA line represents a bearish outlook, with short-term EMA positioning under the long-term appearance. This alignment suggests that the current downtrend is still strong and if negative momentum continues, Doge can test the $0.20 level.
The following breakdown may push Dogecoin price It fell to $0.14, marking its lowest point since December 10, 2024.
On the other hand, if the trend reverses, Doge may try to restore $0.30 as a resistor. A successful breakthrough above this level could result in a retest of $0.36, a key level that was not exceeded at the end of January.
If the bullish momentum further strengthens, Door price It can climb to $0.40, representing potential 54% upside. However, until Emas turns to a more bullish formation, the overall trend remains bearish.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
