Dogecoin (DOGE) is currently trading near $0.22140, displaying bearish momentum within a range bounded by key technical levels.
Technical indicators underscore the current downtrend. The Relative Strength Index (RSI) sits at 42.20, remaining below the neutral 50 level and pointing to heightened selling pressure further confirming the negative sentiment.
The Moving Average Convergence Divergence (MACD) indicator exhibits a bearish crossover, reinforcing the potential for continued downward movement.
Crucial support is identified at the $0.217 level. Should bearish pressure overwhelm this level, DOGE could potentially slide towards lower supports near $0.212 or $0.208.
Conversely, a decisive break above the $0.225 resistance barrier, backed by robust trading volume and a bullish MACD crossover reversal signal, could indicate the beginning of a potential upside reversal for the meme-inspired cryptocurrency.