Dogecoin Downtrend

Dogecoin has entered a downtrend after falling below the critical 50 EMA, which typically signals bullish momentum when above it. The recent move into bearish territory raises concerns about DOGE’s short-term outlook, highlighting its vulnerability amid selling pressure.

Bitcoin’s Weakness

Bitcoin’s market dominance is waning as it approaches the 100 EMA, indicating a decline in bullish momentum. The liquidity around $63,000 has become significant, with the possibility of this price testing soon if the downward trend continues. A drop in trading volume adds to the concern, suggesting that the recent uptrend may not persist.

Tron’s Unexpected Decline

Tron experienced a notable 6.4% drop, reaching the critical support level at the 50 EMA. Although this could indicate a potential price reversal, the RSI falling below 50 suggests strong selling pressure. If TRX breaks this support, the next key level to watch is $0.1200, which may indicate longer-term bearish trends if breached. Investors should monitor these support levels closely for potential reversals or further declines.

This article was originally published on U.Today