$DOGE

It re-entered the channel on December 11, but bulls are struggling to keep the price above the 20-day EMA ($0.40).

If the price breaks and remains below the 20-day EMA, DOGE/USDT could slide to $0.36. A break and close below $0.36 could sink the pair to the 50-day SMA ($0.32), where bulls are expected to enter.

On the upside, bulls will have to push and hold the price above $0.43 to suggest that the break below the channel may have been a bear trap. The pair will then attempt a rally to $0.48.