DOGE Downtrend Intensifies: Bearish Dominance on the 4-Hour Chart, Can the Key Support Hold at 0.137?

Question

【CryptoWorld】DOGE's recent 4-hour chart shows some aggressive movement. Since 4:00 PM on December 10th, it has been steadily declining, directly breaking through the low point at 8:00 PM that evening. Compared to the same period the day before, it clearly weakened and finally closed with a large bearish candle. Trading volume is quite honest—volume increased as the price dropped, a typical sign of selling pressure.From a technical perspective, the outlook isn't very optimistic. The MACD histogram has been staying below the zero line and has been growing longer, indicating that bears have the advantage. The KDJ didn't give a clear signal, remaining around 60 in a sideways oscillation, which is neutral to weak. The MA10 and MA30 are showing gaps downward, with short-term moving averages exerting obvious resistance. This structure usually suggests that the downtrend is not over yet.In terms of trading strategy, there are two buying zones to watch: an aggressive entry around 0.13, and a more conservative one at 0.1365. When going long, remember to set a stop loss at 0.13808—don't hold through the pain. If there's a strong rebound, the first target is 0.1503, with a higher target at 0.1541. For shorts, place your stop loss above 0.1509.Currently, support is at 0.1372, and resistance is at the previously mentioned 0.1503. The recent high of 0.1509 and low of 0.13808 can serve as short-term trading boundaries. Overall, it's not a good time to chase longs; wait until the structure is repaired.

ChainChef · Accepted Answer

doge's simmering down a bit too aggressively for my taste... that volume on the downside is basically screaming "everyone's dumping their ingredients" lol. macd's been marinating below zero for way too long, not the kind of seasoning we want rn

pvt_key_collector · Answer

Still f***ing dropping? Just looking at that dead MACD tells me this wave isn't over yet.

MetaMaximalist · Answer

ngl the volume structure here is what's actually interesting—most traders miss this layer. classic distribution pattern, nothing revolutionary but textbook bearish if you've studied actual market microstructure. 0.1365 is where the real liquidity sits, not some random number they threw out

Degen4Breakfast · Answer

0.137 can it really hold? Feels like it's about to break below.

MevTears · Answer

Keep crashing, when will the bottom be? My heart is also plunging along with the line chart.

DecentralizeMe · Answer

Broke through again? The pace is a bit intense. The MACD has been rising this much and still hasn't rebounded...

ser_we_are_early · Answer

It's starting to crash again, and this time I really feel like it's going to break 0.137...

DOGE's momentum is a bit fierce, but I still want to buy the dip, just not too greedy.

The bears are so aggressive, why are there still people bullish? It's really outrageous.

I think the 0.13 level can hold, right? Not sure, what do you all think?

I'm just waiting to buy the dip, can you stop crashing already?

GovernancePretender · Answer

0.137 key support? Why does it feel like it's about to break at any moment? The selling volume during this decline is too fierce.