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If we look at the 4-hour chart of the Doge cryptocurrency, it appears that a Bearish Pitchfork channel has formed and there is a deviation between the Doge price movement and the RSI(5) indicator, although the current condition is ranging, which is confirmed by the EMA 21 moving between the candle bodies and has a flat slope, but with the formation of the Head & Shoulder pattern as well as the Bearish 123 pattern, in the near future Doge has the potential to weaken down where the level of 0.13296 will be tested and penetrated by the cryptocurrency. If successful, Doge will continue to weaken to the level of 0.12485 as its main target and if the momentum and volatility support it, 0.11738 will be the next target to be aimed for, but all of these weakening scenarios will be invalid if Doge suddenly turns stronger on its way to these targets and breaks as well as closes above the level of 0.14957.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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