$DOGE
Dogecoin is down 3% at press time on Monday, extending the correction phase for the sixth straight day. The meme coin steadies below the 20-day Exponential Moving Average at $0.1375 and the 50-day EMA at $0.1417, maintaining a bearish setup as both averages slope lower, capping recovery attempts. Additionally, the 200-day EMA at $0.1718 is trending lower, supporting the broader bearish bias.
The Moving Average Convergence Divergence (MACD) histogram has slipped into negative territory and is expanding, with the MACD line below the signal line near the zero mark, suggesting strengthening bearish momentum.
The Relative Strength Index (RSI) at 39 reflects an increase in selling pressure, nearing the oversold zone.
To improve the tone, DOGE should secure a daily close above the descending trendline connecting the October 27 and January 14 highs.
On the downside, if DOGE slips below the December 31 low at $0.1161, it could target the October 10 low at $0.09500.
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