Usman Salis
⬤ Dogecoin is displaying fresh weakness on the monthly chart, sliding below critical Ichimoku levels after failing to hold strength near major resistance. The current monthly candle is trading around $0.149, representing a significant decline after the earlier push toward the cloud's upper edge. Traders typically feel most confident at points of highest risk and most anxious near support zones.
⬤ The chart shows DOGE previously entered the Ichimoku cloud during a phase of strong bullish sentiment. That zone acted as major resistance within the Ichimoku framework, and price couldn't maintain momentum above it. After getting rejected, DOGE dropped sharply lower, breaking beneath both the conversion and base lines and now sitting underneath the cloud—confirming a bearish change in the longer-term trend.
⬤ Market sentiment has flipped alongside the price movement. Fear has taken hold at current support levels as the asset returned to the cloud's lower boundary. The Ichimoku projection shows the cloud flattening and moving sideways ahead, indicating overhead resistance could remain for a while unless DOGE finds stability. This pattern captures the emotional cycle: excitement at resistance, anxiety at support.
⬤ Higher-timeframe indicators matter during broad crypto consolidations. With DOGE now beneath the Ichimoku cloud and sentiment shaky, the next monthly closes will determine whether price can reclaim trend strength or keep drifting lower. DOGE remains within a wide multi-year range where reactions at cloud boundaries continue shaping long-term direction.
Usman Salis
