Dogecoin Support Test: Can DOGE Recapture Bullish Momentum?

After losing its late-August rally, Dogecoin is facing a crucial support test. At $0.0823, DOGE is trading right in the middle of a cluster of short-term technical support. This area between $0.080 and $0.082 has become significant.

The 100-day EMA around $0.0816 and the short-term moving average near $0.0806 converge here. Recent candles show buyers trying to protect DOGE after it dropped from its peak of $0.095. If this support holds, the August breakout structure would remain intact.

However, the strong rejection at the 200-day EMA indicates that the overall trend has not turned entirely in favor of buyers. Momentum has significantly decreased since then.