DOGE Tests Bollinger Band Resistance Amidst Breakout Structure Intact

DOGE is testing its upper Bollinger Band resistance at $0.09 after a recent pullback. The cryptocurrency's breakout structure remains intact, according to @TATrader_Alan, despite its first Kumo rejection. This suggests that the price may be due for a healthy correction before any further continuation attempt.

The 4h chart shows DOGE trading inside the Bollinger Bands with an EMA50 resistance at $0.09 and EMA200 support at $0.08. The RSI(14) is sitting at 39.68, indicating neutral momentum. Meanwhile, the MACD has printed a death cross, which could be a bearish signal.

However, @TATrader_Alan notes that DOGE holds just above the Kijun-sen after its first Kumo rejection. This means that the breakout structure is still intact, and a second attempt to reclaim the cloud with a daily close above it could lead to further price action.