Dogecoin has entered a phase of high-level oscillation and adjustment after a significant surge. Recently, the candlestick chart shows a downward trend; the price fell back after encountering significant pressure around 0.41034.

On December 17, a long upper shadow was formed, indicating heavy selling pressure from above. Furthermore, from our commonly used moving average trading method, we can see that the yellow 20 moving average has crossed below the 60 and 120 moving averages, which is a clear bearish signal, and the current price is already below the yellow 20 moving average.

Technical Indicators: MACD: In the 4-hour period, both DIF and DEA are negative, and the MACD histogram continues to be below the zero axis, indicating that bearish forces dominate in the short term. The daily MACD also shows signs of a death cross, necessitating caution against further downside risk.

RSI: The 4-hour RSI is close to 40, in a weak area, but has not entered the oversold range, indicating that there is still some downside momentum. The daily RSI is close to 50, with market sentiment leaning towards neutrality.

EMA: The current price is below EMA20, EMA60, and EMA120, especially as EMA20 exerts short-term pressure on the price, with an overall bearish trend.

Trading Volume: On December 17, the trading volume significantly increased, accompanying the price decline, indicating clear capital outflow. The trading volume has shrunk in recent trading sessions, and market watchfulness has increased.

Short-term Traders [Buy/Sell Points]:

$DOGE (Contract)

Buy Point One: 0.38 USDT (Near previous low point, may form support)

Buy Point Two: 0.37 USDT (Near integer level, historically has had strong buying)

Long Position Stop Loss Point: 0.37 USDT (Break below key support level, prevent further downside risk)

Short Point One: 0.40 USDT (Near EMA7 moving average resistance and recent high point)

Short Point Two: 0.415 USDT (Previous high point area, with significant selling pressure)

Short Stop Loss Point: 0.42 USDT (Breakthrough important resistance range, need to control risk)

Long-term Traders [Buy/Sell Points]:

$DOGE (Spot)


Buy Point One: 0.38 USDT (Near previous low point, may form support)

Buy Point Two: 0.37 USDT (Near integer level, historically has had strong buying)