<em><strong>The DOGE Technical Analysis shows a selling opportunity as the retest of the broken support trendline warns of bearish trend continuation.</strong></em>

The DOGE price action shows a retest phase of the broken support trendline within a range, reflecting a growing bearish influence. However, the possibility of a morning star-led bull cycle rising above the broken trendline to reach $0.067 warns Dogecoin sellers. So, should you avoid booking profits this early?
<h3>Key Points:</h3>
<ul>
 	<li>The <a href="https://www.cryptoknowmics.com/news/elon-musk-258-billion-dogecoin-lawsuit-expands-to-include-more-parties/" target="_blank" rel="noopener">Dogecoin</a> price action shows higher price rejection in the daily candle, reflecting a post-retest reversal chance.</li>
 	<li>A bearish trend continuation might break the crucial support level of $0.057.</li>
 	<li>The intraday trading volume in Dogecoin is $242 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/w/wAeQ0UEz.png" alt="DOGE Price Chart" width="2474" height="1219" />

Source - <a href="https://www.tradingview.com/x/wAeQ0UEz/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>DOGE Technical Analysis</h2>
As mentioned in our <a href="https://www.cryptoknowmics.com/news/doge-technical-analysis-rising-trend-fails-within-consolidation" target="_blank" rel="noopener">previous analysis</a>, the increased bearish influence led to a breakout of a rising support trendline. The breakout rally forms a Doji at the bottom support of $0.057 and teases a morning star to restart the bull cycle.

Currently, the daily candle shows a 0.35% jump, but the higher price rejection from the broken trendline warns of a post-retest reversal. However, the spike in trading volume makes a strong bull cycle possible as the buying pressure increases.

If the selling pressure increases, the Dogecoin market price will drop to $0.057, teasing a breakout rally to $0.052.

Conversely, if the bullish momentum increases, a reversal will dump the DOGE prices to $0.065. In such a case, traders can expect an extension of a sideways trend within the range.
<h2>Technical Indicators</h2>
The RSI indicator shows a recovery trend in the nearly oversold zone as it approaches the halfway and 14-day average lines. Moreover, the fast and slow lines signal a bearish crossover, with the bearish histograms gaining momentum.

Therefore, the DOGE technical analysis suggests that traders can find a selling opportunity shortly.

Resistance Levels - $0.065 and $0.075

Support Levels - $0.057 and $0.052

DOGE Technical Analysis: Broken Trendline Warns Dogecoin Crash

The DOGE technical analysis shows a selling opportunity as the retest of the broken support trendline warns of bearish trend continuation.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

DOGE Technical Analysis: Broken Trendline Warns Dogecoin Crash

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