Dogecoin still has a bullish stance, but the buyers' hopes might be dashed by the harsh reality of scant demand and a BTC downturn.
Despite that, it maintained the bullish market structure on the 1-day chart. Things were not as simple, and the bulls had significant challenges ahead.The market structure was still bullish after the structure break earlier this month. Since then, the meme coin has not formed a lower low. The RSI was also above neutral 50, although just barely.However, the trading volume has been very low throughout July.
The OBV reflected this fact with a tepid bounce in July, and over the past few days has resumed its slump.The $0.119-$0.123 zone is the biggest support zone nearby, and the $0.139-$0.143 is the largest resistance. A retest of the $0.12 support level appeared possible and might present a buying opportunity given the bullish structure on the daily chart.The mean dollar invested age continued to trend higher.
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