<ul data-eligibleForWebStory="false"><li>Market technician Tony Severino suggests Dogecoin's momentum is fading based on a monthly chart analysis posted on TradingView.</li><li>The chart shows historical points where Dogecoin peaked and then entered prolonged downward trends.</li><li>Severino highlights the LMACD indicator, indicating a potential bearish crossover signaling a deeper retracement for Dogecoin.</li><li>Dogecoin is currently between support at $0.05 and resistance at $0.48, with a bearish outlook if demand doesn't increase.</li><li>Thin crypto liquidity and market fatigue due to delayed US Federal Reserve actions and geopolitical tensions contribute to the analysis.</li><li>Long-term traders are advised to consider the technical indicators over viral trends, as historical patterns suggest a potential downturn for Dogecoin.</li><li>Price reaction in the coming months, especially if the histogram turns more negative, will be crucial in determining Dogecoin's future momentum.</li></ul>

Dogecoin Looks Like ‘It Wants To Play Dead’—Again

Discover more