【$DOGE Signal】No Position | Weak Consolidation in a Downtrend

$DOGE Continues to consolidate weakly below EMA20, with price action indicating a bearish continuation.

🎯 Direction: No Position

Market Analysis: After breaking below EMA20 (0.0937), the price remains under pressure, with four-hour candles closing bearish consecutively. The latest 4H candlestick shows only 44% buying volume, indicating strong active selling pressure. Depth imbalance is at -3.77%, with ask walls significantly thicker than bid walls, suggesting heavy selling pressure above.

Logical Core: Key data points to a bearish dominance. Although the funding rate is negative (-0.0052%), open interest (OI) trend remains stable, with no signs of short squeeze that require rising OI combined with negative funding rates, ruling out a short squeeze risk. RSI (30.83) enters oversold territory but shows no divergence or buy absorption structures, indicating purely bearish momentum.

Price remains below all key EMAs, with a clear downward daily trend. Order book shows any rebound to the 0.0895-0.0896 area will encounter dense sell orders. The current pattern lacks effective reversal or bullish setup, representing typical weak consolidation within a downtrend.

Risk Control Perspective: Any bottom-fishing actions are against the trend until the price reclaims EMA20 with a significant increase in OI and a positive shift in depth imbalance. ATR is 0.0020, indicating moderate volatility, but no clear right-side entry signals are present.

Trade 👇 $DOGE

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