DOGEUSD Technical Analysis
The price is trading bearishly within a descending channel. Stabilization below the 0.4121 level confirms the continuation of the downward trend towards 0.3505, acting as a corrective movement to counterbalance the prior uptrend and accumulate additional positive momentum.
As the correction nears its completion, the price is anticipated to attempt a recovery by rising above 0.4121. Subsequently, a breakout above the upper boundary of the descending channel could pave the way toward the key resistance level at 0.4725 and then to 0.5200 as a new high level.
Key Levels:
Pivot Point: 0.4121
Resistance Levels: 0.4121, 0.4450, 0.4725
Support Levels: 0.3505, 0.2935, 0.2776