Hi!
Market Structure:
Dogecoin remains in a well-defined descending channel, confirming a sustained bearish trend. Price continues to print lower highs and lower lows, indicating that sellers are still in control on the 4H timeframe.
Pattern Development:
Within the channel, price consolidated into a bearish rectangle, which typically acts as a continuation pattern. The breakdown from this range aligns with the dominant downtrend and reinforces the bearish bias rather than signaling accumulation.
Trend & Momentum:
Repeated rejections from the upper channel boundary and the median line show weak bullish follow-through. Each corrective bounce has been sold aggressively, suggesting distribution rather than reversal.
Key Levels:
Resistance: Upper channel/rectangle top
Support: Channel lower boundary near 0.117–0.118
As long as DOGE trades below the descending channel resistance, downside pressure remains dominant. A continuation toward the lower channel support is favored. Only a confirmed breakout above the channel would neutralize the bearish structure.
Market Structure:
Dogecoin remains in a well-defined descending channel, confirming a sustained bearish trend. Price continues to print lower highs and lower lows, indicating that sellers are still in control on the 4H timeframe.
Pattern Development:
Within the channel, price consolidated into a bearish rectangle, which typically acts as a continuation pattern. The breakdown from this range aligns with the dominant downtrend and reinforces the bearish bias rather than signaling accumulation.
Trend & Momentum:
Repeated rejections from the upper channel boundary and the median line show weak bullish follow-through. Each corrective bounce has been sold aggressively, suggesting distribution rather than reversal.
Key Levels:
Resistance: Upper channel/rectangle top
Support: Channel lower boundary near 0.117–0.118
As long as DOGE trades below the descending channel resistance, downside pressure remains dominant. A continuation toward the lower channel support is favored. Only a confirmed breakout above the channel would neutralize the bearish structure.
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📊 AVATrade Ambassador Join & explore:
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🟢 Telegram channel: t.me/melikatrader94
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avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.