DOGECOIN Price Prediction : DOGE near previous month low at $0.07053, Will it sustain or break ?

• Dogecoin forming double top pattern, trading near the demand zone
• DOGE slipped below 50 day and 200 day ema indicates bearish trend reversal on a higher time frame.

Dogecoin had tried multiple times to sustain higher levels but sellers kept on dominating the higher levels. As per coinglass, DOGE/USDT futures 24 hours long buildup at 42.92% whereas short build up at 57.06% shows sellers are more as compared to buyers. Currently, the DOGE is trading positive with gains of 2.34% on a intraday basis and 24 hour volume to market cap ratio stood at 0.0824

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Will the DOGE take support at the demand zone ? 

On a daily time frame, it is visible that DOGE has been a favorite meme coin of speculators as it has given some wild swings in the past couple of months with a higher volume and later got dumped badly. In the end of October, Dogecoin jumped almost 144% in just one week, hitting highs at $0.15893 and in the next week it dumped down and lost all its previous  gains. 

In the mid November, prices got some momentum and reclaimed both the 50 and 200 day ema but again it acted as a trap for bulls and got rejection form $0.11072. Currently, prices are back to their lower levels and trading near the demand zone of $0.07085.

The 50 day ema may negatively cross the 200 day ema which will confirm the short term trend reversal on downside but sellers may stay cautious because, as per DOGE price history it is highly speculated crypto and may again attempt to bounce back from the demand zone.

The closer Outlook

On a lower time frame, DOGE picture is similar to higher timeframe and had been trading in a short term downtrend. The super trend indicator had generated a sell signal and red line continuously trailing down indicates trend to remain weak till prices are trading below red line but Luckily, prices are approaching support zone and if bulls able to defend demand zone at…