The article discusses the current decline in Dogecoin’s price and market structure. It mentions that the loss of support at the 200-day Exponential Moving Average could lead to a larger breakdown. The Relative Strength Index sinking into neutral territory indicates a possible downward path for Dogecoin. The 100-day EMA and other support levels are identified to absorb selling pressure. The article also highlights insights from a trader, suggesting that Dogecoin may experience losses before the trend reverses. Additionally, it mentions a major network upgrade scheduled for Dogecoin on November 1st, which aims to improve scalability and stability. The impact of this upgrade on Dogecoin’s price is uncertain, but it reflects the commitment of developers to the project’s future.
AI Sentiment: Positive
