Dogecoin (DOGE) Technical Analysis Predicts 30% Upside
The post Dogecoin (DOGE) Technical Analysis Predicts 30% Upside appeared on BitcoinEthereumNews.com. A Dogecoin price breakout is likely amid sustained drawdown amid volume boost. While a 30% rally is possible, bearish headwinds cannot be shunned. The price of Dogecoin (DOGE) is caught up in the current market selloff, which has seen it lose some of its gains in the past 24 hours. The coin’s setup is, however, indicative of a potential breakout in the long term. Despite the broader uncertainty, many now seek answers to whether the DOGE price can jump by 30% or more soon. Dogecoin Technicals Point Toward Rebound At the time of writing, DOGE price has buckled amid intense selling pressure on different timelines. In the past 24 hours, Marketcap shows its price has dropped by 3.18% to $0.2157. The trading volume is, however, up 95% within the same period. The price outlook over the past two weeks differs, with the meme coin jumping by more than 25% during this time. Despite the close trading range, volatility has been so strong that it has become uncertain how much or when a breakout will occur. Analysts have spotted a technical setup that may support a sustainable price revival. As it stands, Dogecoin is trading below both the resistance level at $0.225 and the 100-day Simple Moving Average (SMA). This price setup shows that, given the right triggers, there is enough room for a breakout. According to Ali Martinez, Dogecoin is forming a declining wedge pattern, which is a bullish reversal trend. Based on our earlier news coverage, the DOGE price is expected to return to $1. Current positioning from analysts suggests this current setup may trigger the breakout. However, the current technical setup is not a yardstick for discounting Dogecoin prices from more potential trend reversals. According to CryptoQuant contributor Burak Kesmeci, the top memecoin is combating the influx of…
The post Dogecoin (DOGE) Technical Analysis Predicts 30% Upside appeared on BitcoinEthereumNews.com.
A Dogecoin price breakout is likely amid sustained drawdown amid volume boost. While a 30% rally is possible, bearish headwinds cannot be shunned. The price of Dogecoin (DOGE) is caught up in the current market selloff, which has seen it lose some of its gains in the past 24 hours. The coin’s setup is, however, indicative of a potential breakout in the long term. Despite the broader uncertainty, many now seek answers to whether the DOGE price can jump by 30% or more soon. Dogecoin Technicals Point Toward Rebound At the time of writing, DOGE price has buckled amid intense selling pressure on different timelines. In the past 24 hours, Marketcap shows its price has dropped by 3.18% to $0.2157. The trading volume is, however, up 95% within the same period. The price outlook over the past two weeks differs, with the meme coin jumping by more than 25% during this time. Despite the close trading range, volatility has been so strong that it has become uncertain how much or when a breakout will occur. Analysts have spotted a technical setup that may support a sustainable price revival. As it stands, Dogecoin is trading below both the resistance level at $0.225 and the 100-day Simple Moving Average (SMA). This price setup shows that, given the right triggers, there is enough room for a breakout. According to Ali Martinez, Dogecoin is forming a declining wedge pattern, which is a bullish reversal trend. Based on our earlier news coverage, the DOGE price is expected to return to $1. Current positioning from analysts suggests this current setup may trigger the breakout. However, the current technical setup is not a yardstick for discounting Dogecoin prices from more potential trend reversals. According to CryptoQuant contributor Burak Kesmeci, the top memecoin is combating the influx of…
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