⬤ Dogecoin took a significant hit after forming a bearish Ichimoku setup on the 4-hour chart. Price got rejected right at the Kijun-sen baseline, which kicked off a short signal that started DOGE’s downward spiral.
⬤ When the signal first appeared, DOGE was hovering around $0.12 before diving into a prolonged selloff. The chart clearly showed price staying beneath the Ichimoku cloud with resistance keeping it down, confirming the bearish momentum. The drop kept going steadily, making lower highs and lower lows along the way, eventually bottoming out near $0.09. That’s a brutal 36% crash in just over a week.
⬤ What’s notable is that throughout this entire drop, DOGE never even tried to climb back up to test the Kijun-sen level. This showed that sellers were in full control—the market stayed pinned below resistance with negative momentum dominating. The move followed a clean, directional path rather than the wild swings you’d see in a typical reversal.
⬤ This situation shows how important technical trigger points can be for short-term price action. When price reacts strongly around major structure levels, it often sets the tone for momentum and determines whether the trend keeps going or if things settle down after a sharp move.
Dogecoin Plunges 36% Following Bearish Ichimoku Signal
⬤ Dogecoin took a significant hit after forming a bearish Ichimoku setup on the 4-hour chart. Price got rejected right at the Kijun-sen baseline, which kicked off a short signal that started DOGE’s downward spiral.
⬤ When the signal first appeared, DOGE was hovering around $0.12 before diving into a prolonged selloff. The chart clearly showed price staying beneath the Ichimoku cloud with resistance keeping it down, confirming the bearish momentum. The drop kept going steadily, making lower highs and lower lows along the way, eventually bottoming out near $0.09. That’s a brutal 36% crash in just over a week.
⬤ What’s notable is that throughout this entire drop, DOGE never even tried to climb back up to test the Kijun-sen level. This showed that sellers were in full control—the market stayed pinned below resistance with negative momentum dominating. The move followed a clean, directional path rather than the wild swings you’d see in a typical reversal.
⬤ This situation shows how important technical trigger points can be for short-term price action. When price reacts strongly around major structure levels, it often sets the tone for momentum and determines whether the trend keeps going or if things settle down after a sharp move.