DOGE/USDT: Where will the price go? Forecast for the coming hours 🐕📉

The DOGE/USDT chart has seen a decline of 2.08% over the last 4 hours, with the current price at $0.13932. The low over the last 24 hours was $0.13650, while the high was $0.14849, indicating fluctuations in the short term 📊.

What does technical analysis show?

1. MA (Moving Averages):

Short-term moving averages (MA(7) and MA(25)) show the beginning of a bearish trend 🐻, with the MA lines above the current price.

MA(99) is located significantly lower at $0.12117, which indicates the possibility of the price returning to lower supports in the long term if the situation does not change 📉.

2. Volumes: DOGE trading volumes over the last 24 hours amounted to 1.71 billion DOGE, which indicates high interest in the asset 📈, but this does not exclude the possibility of a continuation of the correction.

3. Indicator:

DOGE has gained 18.49% 🚀 over the past 7 days, but the daily decline of 3.79% indicates that the bullish momentum is weakening.

The RSI is not visible at the bottom of the screen, but by analyzing candles and volumes, we can assume that the market is preparing for a correction after a sharp rise 🛑.

What to expect?

1. Support: If the correction continues, the nearest support may be the $0.13650 level. A breakout of this level may accelerate the decline all the way to $0.12425 ⚠️.

2. Resistance: If the market is favorable and the price starts to recover, the key resistance level for DOGE/USDT: will be $0.14242, and a breakout of this level could bring back the bullish sentiment 💪.

My forecast: The price of DOGE/USDT has a high probability of falling to the nearest support level in the coming hours amid a weakening trend. However, if the bulls can protect the current positions and push the price above $0.14242, we can expect a resumption of growth 📉➡️📈.

Advice for traders: Watch volumes and price action at $0.13650 and $0.14242. If one of these levels is broken, a strong move can be expected ⚡

DOGE/USDT: Bears Take Control! Where Will Price Go Next? 🐻📉