Dogecoin (DOGE) is losing footing as bearish sentiment creeps into its lower time frames, with a death cross now forming on the hourly chart.
Still, this may not be the straw that breaks the camel’s back.
DOGE has had a strong weekly showing, notching a 17% gain to reclaim the $0.18 level and riding high on renewed market optimism.
Risk-on sentiment has returned following de-escalations in the US-China trade war and Trump’s concession to the Fed, and DOGE has been among the top altcoins reaping fresh retail liquidity.
Is This the Straw That Broke the Camel’s Back?
When the MACD slips below the signal line in a death cross, it often signals a shift in momentum as buyers lose dominance.
However, options data suggests Dogecoin may still have fight left in it.
Despite the bearish signal, the 4-hour Long/Short ratio remains bullish at 1.97, with 66.3% of traders still backing a price increase, according to Coinalyze data.
Sentiment hasn’t fully flipped, and with open interest also up 1.97% over the period, the reversal could be snubbed before it gains traction as a broader downtrend.
DOGE Price Prediction: Is a Reversal Coming?
Dogecoin remains on a breakout path, closing in on the upper resistance of the descending channel that’s shaped its multi-month downtrend.
The meme coin has now cleared the 20SMA, which had blocked its upside during Thursday’s trading, opening the door for a 45% move toward the $0.25 resistance.
An upwards move seems credible as momentum indicators become increasingly bullish.
The 3-day MACD is widening its lead above the signal line after flipping positive for the first time since the post-election rally—a strong signal that this uptrend has staying power.
That said, the RSI has plateaued at 45, just shy of neutral—suggesting higher timeframes haven’t fully shifted bullish yet.
If buying pressure can hold, a breakout could trigger a run to $0.48, marking a potential 160% gain from current levels.
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