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Technical Analysis: Dogecoin Continues Sideways Trading
XRP is currently trading at $0.1397, still below the 50-day bearish Exponential Moving Average (0.1625), the 100-day EMA (0.1813), and the 200-day EMA (0.1957), maintaining a generally bearish trend. The Moving Average Convergence Divergence (MACD) indicator shows slight stability above the signal line (red), while the green bars on the daily chart are shrinking, indicating waning bullish momentum. The downtrend in Dogecoin may extend below the support level of $0.1332 if the Relative Strength Index (RSI) drops further below 41.
Daily Chart of DOGE/USD
The downward trendline from $0.3063 limits rebounds, with resistance at $0.1688. The strength of DOGE’s trend remains high but is weakening, with the Average Directional Index (ADX) hovering near 37. A daily close above the initial barrier at $0.1688 would improve the outlook and reveal the 100-day EMA at $0.1813. Failure to regain the 50-day EMA would keep gains limited and allow sellers to dominate.