Bearish Indicators Keep Dogecoin (DOGE) Price Under Pressure

DOGE Ichimoku Cloud. Source: TradingView

If DOGE manages to break back above the cloud, it could indicate a potential reversal, but with the current indicators, the likelihood remains low.

Overall, the bearish configuration of the Ichimoku Cloud shows that DOGE may continue to face downward pressure unless there is a strong reversal signal in the coming sessions.

Dogecoin’s Downtrend Is Strong

DOGE’s DMI (Directional Movement Index) chart shows the ADX at 24.2, indicating a moderately strong trend, although not firmly directional. An ADX reading near 25 generally suggests that a trend is present but not strong, implying that while there is momentum, it lacks substantial strength.

In this case, the ADX above 20 signals that the current trend in DOGE’s price movement may persist, but it may not accelerate dramatically without further support.

DOGE DMI. Source: TradingView

The DMI chart itself measures both the strength and direction of a trend through the ADX and two directional indicators, +DI and -DI. The ADX reflects trend strength, while +DI and -DI indicate upward and downward pressure, respectively.

Currently, DOGE’s +DI stands at 14.9, and -DI is at 23.3, showing that downward pressure is stronger than upward momentum. With -DI above +DI, sellers have the upper hand, suggesting that the biggest meme coin in the market may face continued downward pressure in the short term unless there’s a shift in buying interest.

DOGE Price Prediction: 15.8% Correction Likely Ahead

DOGE’s price chart currently shows its EMA lines in a potentially precarious position, with indications that a bearish setting may be forming. While the EMAs still maintain a bullish structure — short-term lines positioned above the long-term ones — the gap between them is narrowing.

This convergence signals a possible loss in bullish momentum, as the most recent short-term EMA has started to decline significantly. If this short-term line crosses below the long-term EMAs, it would establish a strong bearish configuration, suggesting further downward pressure on DOGE’s price.