On the 4-hour chart, the crypto-asset is actively bearish as it is trading below the 100-day Simple Moving Average (SMA). Since its recovery move was interrupted at $0.1069, the price has been bearish and is currently attempting to move towards the previous low of $0.0914.
Moreover, with the formation of William’s Alligator on the 4-hour chart, while Dogecoin is currently rising, there are chances that it will start falling again as both the Alligator’s lips and teeth are currently trending below the Alligator’s jaws.
On the 4-hour chart, it can be observed that the price of DOGE remains bearish as it is still trading below the 100-day SMA. Although the price is attempting a short-term correction via a falling bullish candlestick, the crypto-asset is likely to extend its bullish momentum in the long run.
Moreover, the 4-hour William’s Alligator line indicates a stronger bearish sentiment for the crypto-asset as both the Alligator’s lips and teeth are actively trending below the Alligator’s jaws.
Currently, DOGE is trying to move down to the previous low of $0.0914. If the price of the asset reaches this level and closes below, it will continue to move down to test the $0.0745 support level, and if the $0.0745 support level is broken, it may continue to test the $0.0559 support level and other higher levels.
However, if the price reaches $0.0914 and fails to close below, it will start to rise to the $0.1293 resistance level. If this resistance level is broken, it will continue to rise to test the $0.1491 level. Moreover, if Dogecoin falls below the $0.1491 level, it may rise further to test the $0.1649 mark and other levels on the chart.
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