Dogecoin (Doge) is struggling to regain traction. It has fallen by more than 5% in the past seven days, falling below $0.25 since the end of February. Despite the brief signs of momentum, technical indicators still reflect bearish bias, with key resistance levels closing in on the upward attempt.
The clouds remain red, the EMA line is still bearish, and price action continues to hover under the key trend check zone. However, the sudden change in BBTREND and improvements in momentum metrics suggest that traders are closely watching potential breakout attempts.
Dogecoin faces resistance as its bearish Western Sea structure persists
Dogecoin’s current cychimoku cloud chart shows a clear bearish structure, with price action remaining under the spider (cloud), which is covered in red in the short term.
The Blue Tenkansen (transformation line) is located under the Red Kijunsen (baseline) to enhance the short-term bearish outlook.
Furthermore, priced candles are struggling to break the top of Tenkan-Sen to act as dynamic resistance and prevent them from building upward momentum. This usually indicates weak purchasing pressure at the current market stage.
Looking forward to it, the previous spider cloud has moved from red to green, indicating a potential change in emotions if prices approach the cloud and intrude.
However, the cloud itself is relatively thick, suggesting a strong zone of resistance that requires significant bullish momentum to overcome. The general bias remains bearish until prices get into and break above the clouds.
Kumo’s current flat base also acts as a magnet, pulling out the price, but the upside down maintained depends on whether Dogecoin is able to support the cloud.
Doge sees a sharp reversal when Bbtrend is positive
The Dogecoin’s Bbtrend indicator flipped strongly, rising to 2 from -3.14 just a day ago.
BBTREND (Bollinger Band Trend) is a momentum indicator that measures the strength and direction of price movement compared to Bollinger Bands.
Values above zero suggest bullish momentum, while values below zero exert bear pressure. The higher the positive value, the stronger the upward momentum. Similarly, deeper negative values indicate stronger downward trends.
Doge’s Bbtrend shows an increase in potential emotional changes and bullish momentum. This sharp reversal suggests that purchase pressure is rising and that assets may be in the recovery phase.
While it does not confirm a sustained uptrend in itself, BBTREND in the positive territory is often ahead of further profits, especially when supported by rising volumes of price action and follow-throughs.
Traders may view this as an early signal to monitor potential continuity.
Doge needs to break $0.206 to flip the trend – or risk drops to $0.168
Dogecoin’s EMA line is below the short-term average, reflecting on continuous downward pressure.
If your current bounce doesn’t gain strength, Doge can quickly retest support at $0.168, held in a recent session. Without a critical change in momentum, this level could act as a price action magnet in the short term.
The lack of EMA crossovers undermines the overall trend for now.
Conversely, if momentum is strengthened and Doge can break the resistance for $0.206, it could cause a wider inversion. In that case, the next upside target would be $0.232, potentially $0.254, and assume a follow-through.
Disclaimer
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