Dogecoin is facing pressure, and the current market trajectory remains unclear.

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Recent charts show a bearish crossover between the 50 EMA and the 26 EMA, which is an important technical signal that usually indicates a potential intensification of the downtrend. This development has raised concerns in the market about whether Dogecoin can maintain its existing price range.

The bearish EMA crossover suggests that market sentiment is leaning towards sellers. If buyers fail to intervene in time, DOGE may face further selling pressure. However, if market sentiment changes, DOGE still has the potential to recover and rise, so there is still hope for the time being. To break free from the current unstable state, DOGE needs sufficient buying support.

If market demand rebounds, pushing the price above the EMA crossover zone, the current bearish signal may be invalidated, opening up a more positive trend. Whether DOGE can stabilize and rise against the trend will depend on the immediate support level of $0.28, which is the position of the 50 EMA. If the price can hold above this level, it may lay the groundwork for a rebound.

$0.35 is a key resistance level for DOGE. Breaking through this price level may signify a significant shift in market sentiment, attracting more investor attention and further driving up the price. Without more buying pressure, DOGE may struggle, increasing the risk of further declines.

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