Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Dogecoin Price Eyes Next Critical Level At $0.18, Is A Break Above $0.25 Possible?

Share This Post

The Dogecoin price has been struggling in the market as bears have dominated in the last couple of months. This has seen the meme coin crash below $0.15, taking investor sentiment down with it. However, as the altcoin seems to be setting up for a recovery with multiple bullish formations.

Analysts Call Breakout For Dogecoin Price

In an analysis on X (formerly Twitter), Crypto School pointed out that the Dogecoin price continues to hold support above $0.15. This suggests that bulls are making their stand at this level and is now a pivotal level for the altcoin. This means that what the altcoin does next from here would be a “make or break move”, determining what direction the price could be headed next from here.

The next bullish confirmation would be for the Dogecoin price to actually reach and clear the resistance at $0.18. However, if this does not happen, then the bearish downtrend could continue, and in that case, DOGE could crash another 20% to drop down to $0.11.

Dogecoin 1

“This is a high time frame setup where confirmation is key. Not looking to front-run the move,” the analyst said. “Waiting for the reclaim to reduce risk and maximise positioning.”

DOGE And The Falling Wedge Pattern

Another crypto analyst on the platform also pointed out that the Dogecoin price is still trading within a falling wedge pattern. The thing about falling wedge patterns is that they appear when a downtrend is nearing its end. And more often than not, the culmination of a falling wedge pattern will end up in a bullish breakout.

Dogecoin 2

In this case, if the Dogecoin price were to breakout, then it still has to beat the $0.18 level outlined above. Otherwise, the breakout could lose its momentum very quickly and fall back down. From here, the major support levels then lie between $0.134 and $0.142, according to the analyst.

Dogecoin Trend Reversal On The Horizon

The current trend for Dogecoin remains bearish as sellers are still dominating. However, there is a chance that a trend reversal is coming, as outlined by crypto analyst Trader Tardigrade. The analysis shows that the meme coin has already seen a trend reversal on the 4-Hour chart, with signs of uptrend continuation.

Dogecoin 3

If this uptrend holds, it could mark the beginning of a drawn-out recovery rally for the Dogecoin price. Additionally, the analyst confirms that DOGE saw its RSI fall below 50. But with the recovery, the RSI is trending back toward 50, and a break above this level would support an uptrend continuation.

Dogecoin price chart from TradingView.com

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Dogecoin ‘Looks Incredible Here,’ Says Crypto Analyst — Here’s Why

Dogecoin has spent the better part of three years digesting its 2021 blow-off-top, yet the popular meme-coin may be about to leave the consolidation range behind, according to a fresh weekly chart

Bitcoin Bulls In Control? Binance Taker Buy-Sell Ratio Points To Strong Momentum

In a recent CryptoQuant Quicktake post, on-chain analyst Crazzyblockk highlighted that Bitcoin’s (BTC) Binance Taker Buy-Sell Ratio has climbed to 1131 – indicating growing bullish momentum

Within 48 Hours, 2 US States Enact Strategic Bitcoin Reserve Legislation

Bitcoin surges into state-level finance as two US states legalize strategic bitcoin reserves within 48 hours, signaling unstoppable bipartisan momentum and a new financial era Bitcoin Breaks Through

Meta exploring stablecoins for cross-border payouts in renewed crypto push

Meta is exploring stablecoin-based payment infrastructure in a renewed effort to integrate blockchain technology into its platforms, Fortune reported on May 8, citing people familiar with the matter

Bitcoin Bulls Dominate Futures Market – $100K Level Now In Focus

Bitcoin is trading above $99,000 for the first time since February, signaling a surge in bullish momentum as price action pushes toward the long-awaited $100K milestone After weeks of steady uptrend

SEC files to settle lawsuit with Ripple, execs over civil penalty dispute

The US Securities and Exchange Commission (SEC) filed a proposed settlement agreement with Ripple, CEO Brad Garlinghouse, and Executive Chairman Chris Larsen to resolve the Commission’s