Dogecoin (DOGE) has fallen a lot, going down more than 30% from its yearly high of $0.48 earlier this month. This decline is linked to various negative signs that indicate prices may drop further as the year ends. Technical indicators suggest that DOGE might drop below $0.20.
A significant bearish pattern, called a “Death Cross,” has appeared on the DOGE/USD one-day chart. A short-term moving average, like the 50-day, crosses below a long-term moving average, such as the 200-day. This pattern happens then.
The crossover on December 18 caused DOGE’s price to drop by 20%, showing a change in market mood from positive to negative. The recent price drops have hidden any long-term gains, showing a weakening trend.
The Super Trend Indicator for DOGE shows the price is below the red line, indicating ongoing selling pressure. DOGE is currently trading under $0.33. If selling continues, the price might drop to $0.28. If this support doesn’t hold, the next important level to watch is $0.23.
