Dogecoin Faces Bearish Momentum but Long-Term PMO Hints at Major Upside
Dogecoin (DOGE) is trading under short-term selling pressure around $0.1032, down 1.5% in 24 hours and roughly 27% over the past month. Intraday range sits between a $0.1001 low and $0.1065 resistance. Immediate support is the $0.103 area; a daily close below this would expose $0.10 and then $0.095. Key resistance zones are $0.123 (first resistance) and a stronger $0.135–$0.15 band. Momentum indicators — Parabolic SAR above price and the Awesome Oscillator in expanding negative territory — favor further downside while rebounds look corrective unless price reclaims SAR and AO turns positive. Separately, long-term Price Momentum Oscillator (PMO) readings on the weekly chart are near historical troughs that preceded major rallies (notably ~21,000% from 2015–2018 and ~800% from 2022–2024). An analyst suggested this pattern could precede another large inflection, albeit reaching targets like $1.15–$1.80 would require massive gains (~1,644% to $1.80). This is analysis, not financial advice.
Neutral
Short-term technicals are bearish: DOGE is trading below key short-term levels, Parabolic SAR sits above price, and the Awesome Oscillator is negative and expanding — all signals that favor further downside or corrective bounces. Immediate supports ($0.103, $0.10, $0.095) and resistances ($0.123, $0.135–$0.15) create defined risk levels for traders. However, the weekly PMO is near historical troughs that previously preceded large multi-year rallies. That long-term signal introduces a bullish structural narrative, but it is a slow-moving indicator that does not invalidate near-term weakness. For traders: expect elevated volatility and range trading until momentum indicators flip. Short-term strategies: consider short/put bias while stops sit above $0.123–$0.135, or scalp rebounds given weak trend. Medium-to-long-term investors may view the PMO trough as a potential accumulation signal but should size positions carefully and await confirmation (PMO turnaround, AO flattening/green, SAR flip). Historical parallels (large rallies after deep PMO troughs) show that while eventual upside can be significant, timing and intervening drawdowns can be prolonged, so risk management and staging entries are prudent.