$DOGE Dogecoin is trading sideways and under pressure
Dogecoin is trading above $0.13 at the time this news was written on Tuesday. The meme coin is below the declining 50-day Exponential Moving Average (EMA) at $0.15, the 100-day EMA at $0.17, and the 200-day EMA at $0.19, all emphasizing a bearish setup.
The Relative Strength Index (RSI) is at 41, below the midpoint on the daily chart, confirming suppressed buying interest. If the RSI drops further towards the oversold territory, the path with little resistance will remain downward, increasing the chances of DOGE testing support at $0.12.
However, a bullish crossover appears as the Moving Average Convergence Divergence (MACD) line rises above the signal line on the same chart. The green histogram bars have been slightly positive above the average line, indicating improving momentum.
Nevertheless, a sustained breakout above resistance at $0.15 could pave the way towards the 100-day EMA at $0.17. A failure to reclaim that level will keep the bears in control below the 200-day EMA at $0.19. Meanwhile, the Average Directional Index (ADX) at 36 continues to fade, indicating a softer trend strength and a consolidation tone until there is a clear breakout.
