Dogecoin (Doge), the largest memecoin of Market Cap, fell below a short -term bullish trend line on Monday, indicating the end of the recovery of the minimum of December and potentially the conclusion of a demonstration of five months.
Since then, prices have fallen below the Fibonacci recoil level of 38.2% of the race that began in August and playing maximum approximately 48 cents in December before going back. A technical analysis rule says that for a market to maintain its current trend, it must be maintained above that level. If it does not, it is said that the trend ended.
The histogram of divergence of the convergence of the mobile average (MACD) is printing deeper bars under the zero line, another indication of strengthening the bassist impulse. The simple mobile averages of five and 10 days tendency to the south, hinting at a bassist bias.
The support is seen in around 26 cents, the low printed on December 20 followed by 23.4 cents, which marks the 61.8% setback of the August-December demonstration. Dege would need to recover the line of bullish trend from the minimum of December to invalidate the bassist perspective.
