$DOGE

The bears did not allow Dogecoin to stay above the 20-day EMA ($0.40) on December 16, which may have tempted short-term buyers to book profits.

This pulled the DOGE/USDT pair towards the 50-day SMA ($0.35), which is a critical short-term support. The buyers are expected to defend the 50-day SMA vigorously, but the relief rally is likely to face strong selling at the 20-day EMA.

If the price turns down from the 20-day EMA, it will signal that the bears are selling on rallies. This increases the possibility of a break below the 50-day SMA. The pair could then drop to $0.30. If the bulls want to avoid the decline, they will have to push and sustain the price above $0.43.