Dogecoin (DOGE) continues to experience a downward trajectory, highlighting bearish sentiment in the market. Over the past 24 hours, DOGE has struggled to sustain momentum, hovering around $0.365 after failing to recover above key resistance levels. The indicators on the 4-hour chart suggest further potential volatility as market participants await a clearer directional signal.

Moving Averages Indicate Bearish Pressure

DOGE is trading well below the key (EMAs) — 20-day ($0.382), 50-day ($0.395), 100-day ($0.402), and 200-day ($0.383). This positioning indicates sustained bearish dominance as sellers maintain control.

The 20-EMA has remained below the longer-term 50-EMA and 100-EMA, underscoring a continued downward trend. Furthermore, the lack of bullish crossover attempts suggests buyers lack the momentum to reverse the decline.

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RSI Shows Weak Recovery Efforts

The Relative Strength Index (RSI) divergence currently hovers near -1.058, reflecting a lack of buying strength. While the RSI has moved away from oversold territory, it has not yet reached a level indicating significant bullish action. This neutral-to-bearish outlook could mean DOGE needs a substantial catalyst to reignite buying interest.

DOGE faces immediate resistance at $0.382 (20-EMA) and $0.395 (50-EMA). Breaking above these levels could pave the way for a challenge to $0.402 (100-EMA). However, failure to gain momentum risks pushing the price down toward the $0.350 support level.

Conclusion

Dogecoin’s near-term outlook remains cautious as sellers dominate the charts. Unless DOGE regains its footing above the 20-EMA, the bears will likely retain control, potentially driving the price to lower support levels.