DOGECOIN (DOGE), the largest same by market capitalization, fell below a short -term trend line on Monday, signaling the end of the resumption of December in December and potentially the conclusion of a five -month rally.
Since then, prices have dropped below the level of Fibonacci trace of 38.2% of the race which started in August and affecting the summits of around 48 cents in December before retreating. A golden rule of technical analysis says that for a market to maintain its current trend, it must hold above this level. If he does not do so, the trend would be over.
The Histogram of Divergence of Mobile Average Convergence (MacD) prints deeper bars below the zero line, another indication of the strengthening of the lower momentum. The single mobile mediums of five and 10 days trendy to the south, referring to a lower bias.
The support is observed at around 26 cents, the bottom printed on December 20 followed by 23.4 cents, which marks the retrace of 61.8% of the rally of August-December. Doge should go back to the upward trend line of December in December to invalidate the lowering prospects.
