Dogecoin (DOGE), Hyperliquid (HYPE), Shiba Inu (SHIB) and Bitcoin (BTC) Price Analysis for September 2: Recapturing Bullish Momentum

After losing a significant amount of its late-August rally, Dogecoin is about to go through a crucial support test. At the moment, DOGE is trading at $0.0823, which puts the price right in the middle of a cluster of short-term technical support. The area between $0.080 and $0.082 is the most significant. 

Dogecoin buyers stay on the sidelines

The 100-day EMA around $0.0816 and the short-term moving average near $0.0806 both converge in this area. The most recent candles for DOGE show buyers trying to protect it after the price dropped from its most recent peak of $0.095. The August breakout structure would remain intact if this support were maintained. 

Prior to this, DOGE accelerated from about $0.070 and came very close to the 200-day EMA at about $0.0945. The strong rejection that the long-term moving average generated indicates that the overall trend has not yet entirely turned in favor of buyers. Momentum has significantly decreased. 

After going into overbought territory, the RSI has dropped to about 55. This eliminates a portion of the rally's speculative excess without causing DOGE to enter a bearish trend just yet. The first recovery targets are $0.086 and $0.090 if $0.080 holds, and then another attempt is made at $0.094–$0.095.