2026-02-04 17:37:06

The current Dogecoin price is around 2110 (Beijing Time 01:50). The bearish trend remains strong, and the market continues to face liquidation pressure.

The short-term upward opportunity mentioned yesterday in the 2250-3150 range is limited in space. Although a fluctuation of about 100 points can still be exploited, given the clear downward trend at present, it is not recommended to go against the trend, as the risk-reward ratio is unfavorable. Staying on the sidelines is a more prudent choice at this time. Patience is advised until the price tests the previous low and forms effective support, then consider light long positions.

On the daily chart, the highest before the report was 2295, and the lowest was 2104. All EMA lines are continuously diverging downward, indicating the trend remains bearish. The MACD has been shrinking in volume and increasing in momentum for several days, with DIF and DEA continuing to weaken. The lower band of the Bollinger Bands has moved down to around 2120, with the candlestick repeatedly testing the lower band. Meanwhile, the SR indicator has entered an extreme oversold zone, suggesting a technical correction may be needed.

The four-hour chart shows a descending flag consolidation pattern, with the distance between EMA lines widening, indicating increased volatility. The current EMA15 fast line faces resistance around 2265. If the price rebounds to this level, watch for another downward move; conversely, if the previous low is effectively broken, it could signal a new opportunity to go north. MACD volume continues to shrink, with DIF and DEA converging below the zero line. If the price drops further, a death cross may form. The Bollinger Bands are in a contraction phase, with support at 2146 and the middle band resistance at 2275.

Overall, the bearish pattern remains unchanged, but oversold conditions and technical signals suggest a rebound may occur after the decline. It is recommended to wait until this downward move ends before looking for opportunities to go north at lower levels. #eth $ETH

ETH-2,58%

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