A look at the Weekly chart for Dogecoin shows that price is trading inside the major support area near $0.0019 formed by previous lows and has found support right above the 200-period MA.
However, the price is trading below all the other MAs and the negative Ichimoku cloud.
After rejecting a bullish cross in January 2019, the 21-period MA started to fall sharply.
The RSI is at 39, indicating neither overbought nor oversold conditions.
In a more positive note, the MACD is very close to making a bullish cross for the first time in almost a year.
Dogecoin 3-Day Chart
A look at the 3-day chart gives us a trading structure.
We can see that price has been following a descending support line since April 2018.
Furthermore, the price has started to generate bullish divergence in both the RSI and the MACD, the latter of which is moving upward after making a bullish cross but is not positive yet.
However, the price is trading below all the moving…