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Technical Analysis for DOGUSD for 15th April 2022

Dogecoin breaks below a key support level, DOGE bulls resilient above $0.13

Past Performance of DOGE

DOGE is relatively stable and outperforming BTC and ETH on the last trading day. 

The coin remains within a bullish breakout formation and inching higher despite sharp losses on April 11. 

Overall, bears have a chance. However, this is subject to confirmation below $0.13—marking this week's lows.

DOGE Technical Analysis

From a top-down preview, Dogecoin is trading within a bullish breakout formation following sharp, high-volume gains above the ascending channel in late Q1 2022. The coin is pulling back from March 2022 lows at spot rates, piercing below the middle BB—flexible support—now resistance. Since DOGE prices are below the critical reaction point and within the bear bar of April 11, aggressive swing traders may unload provided prices are below $0.15. More profound losses below $0.13 may see DOGE crumble towards $0.12 in a bear trend continuation pattern.

What to Expect from DOGE

Buyers stand a chance amid a wave of relentless selling pressure. The short-term support is at $0.13. Losses below this mark may lead to more draw-down, weighing negatively on DOGE holders.

Resistance level to watch: $0.15

Support level to watch: $0.13

Disclaimer: Opinions expressed are not investment advice. Do your research.

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