Dogecoin price faces significant selling pressure in the short-term. A key indicator has presented a strong sell signal on the 12-hour chart. DOGE bulls must defend a key support level to avoid a significant fall. Dogecoin has been trading in a short-term downtrend, despite Mark Cuban’s positive comments in the past two days. The digital asset is at risk of a significant drop if it can’t stay above a critical support level. Dogecoin price at risk of a significant correction On the 12-hour chart, the TD Sequential indicator has just presented a sell signal. If Dogecoin price can’t hold the $0.054 support level at the 61.8% Fibonacci level, DOGE will likely fall towards $0.052 and as low as $0.049 at the 38.2% Fib level. DOGE/USD 12-hour chart The In/Out of the Money Around Price (IOMAP) model shows that the area between $0.053 and $0.054 is the most significant support range. A breakdown below this point will push Dogecoin price down to $0.049, the same price target given by the Fibonacci Retracement indicator, adding credence to this theory. DOGE IOMAP chart To invalidate the sell signal, Dogecoin must climb above the last high of $0.0587 and see a 12-hour candlestick close there. The next resistance point is located at $0.063. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD sees muted reaction to BoC, continues to meander around 1.2650 mark FX Street 1 year Dogecoin price faces significant selling pressure in the short-term. A key indicator has presented a strong sell signal on the 12-hour chart. DOGE bulls must defend a key support level to avoid a significant fall. Dogecoin has been trading in a short-term downtrend, despite Mark Cuban's positive comments in the past two days. The digital asset is at risk of a significant drop if it can't stay above a critical support level. Dogecoin price at risk of a significant correction On the 12-hour chart, the TD Sequential indicator has just presented a sell signal. If Dogecoin price can't hold… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.