Thoughts on $DOGE after this recent move
Been watching $DOGE and it's doing its usual thing after that run up yesterday. We're seeing it pull back hard, currently hovering around the $0.06977 mark, with the day's low at $0.068709. What's concerning to me is the lack of a strong bounce from that $0.068 area, which I thought might act as some decent support. If we break and hold below $0.068 consistently, I think we'll be looking at a retest of the $0.065-0.066 region pretty quickly. The volume on this downside move isn't insignificant either, which isn't exactly encouraging for a quick reversal.
My take is that if we don't reclaim $0.071 with conviction in the next few hours, then the path of least resistance is lower. The setup for a continuation of the downtrend from this $0.069 zone is looking more likely than a swift recovery. A clear break above $0.072476, the day's high, would invalidate this bearish outlook for me, but that seems a stretch right now. Just my two cents, always open to being wrong.
The "usual thing" for DOGE often involves a complete retracement, so I'm not surprised to see it struggling to hold support. Are you expecting any fundamental shift, or just another speculative bounce?