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Dogecoin price prediction following the 11% drop in a week
The post Dogecoin price prediction following the 11% drop in a week appeared on BitcoinEthereumNews.com. Dogecoin is currently trading in a falling wedge, eyeing a breakout above $0.219. A close above $0.22378 could signal a bullish trend reversal. On-chain activity is rising, boosting the long-term bullish outlook. Dogecoin (DOGE) has experienced notable turbulence over the past week, with the popular meme coin shedding more than 11% of its value amid wider market volatility. Although short-term losses have sparked concern among retail traders, technical analysts, and blockchain activity suggest that DOGE may be positioning itself for a much larger move. DOGE price analysis Over the past few days, Dogecoin has slipped from a local high of $0.25 to hover around the $0.2161 mark, reflecting a strong pullback after a sustained rally earlier this month. Despite the apparent weakness, this decline has not invalidated the broader bullish structure that analysts have been tracking over recent months. On the four-hour chart, DOGE is currently trading within a defined falling wedge pattern, which is widely regarded as a bullish formation when confirmed with a breakout. Highlighting this setup, an analyst on X has noted that Dogecoin’s price has compressed between descending resistance near $0.219 and support just above $0.212, forming a tightening range. 4h $DOGE FW pic.twitter.com/aBCf1y5jaO — #333kByJuly2025 (@CarpeNoctom) May 17, 2025 The analyst’s chart also points to Ichimoku Cloud metrics that show the price hovering within the equilibrium zone, suggesting that the current pause may precede a larger directional move. The high-confluence support zone between $0.212 and $0.214, bolstered by the Ichimoku Span B, has already prompted intraday rebounds, hinting at strong buyer interest near that level. Meanwhile, resistance at the upper wedge boundary coincides with the Kijun-sen (baseline) around $0.225, creating a well-defined ceiling that needs to be breached for bullish momentum to resume. Dogecoin price outlook If Dogecoin manages a decisive four-hour candle close above…
The post Dogecoin price prediction following the 11% drop in a week appeared on BitcoinEthereumNews.com.
Dogecoin is currently trading in a falling wedge, eyeing a breakout above $0.219. A close above $0.22378 could signal a bullish trend reversal. On-chain activity is rising, boosting the long-term bullish outlook. Dogecoin (DOGE) has experienced notable turbulence over the past week, with the popular meme coin shedding more than 11% of its value amid wider market volatility. Although short-term losses have sparked concern among retail traders, technical analysts, and blockchain activity suggest that DOGE may be positioning itself for a much larger move. DOGE price analysis Over the past few days, Dogecoin has slipped from a local high of $0.25 to hover around the $0.2161 mark, reflecting a strong pullback after a sustained rally earlier this month. Despite the apparent weakness, this decline has not invalidated the broader bullish structure that analysts have been tracking over recent months. On the four-hour chart, DOGE is currently trading within a defined falling wedge pattern, which is widely regarded as a bullish formation when confirmed with a breakout. Highlighting this setup, an analyst on X has noted that Dogecoin’s price has compressed between descending resistance near $0.219 and support just above $0.212, forming a tightening range. 4h $DOGE FW pic.twitter.com/aBCf1y5jaO — #333kByJuly2025 (@CarpeNoctom) May 17, 2025 The analyst’s chart also points to Ichimoku Cloud metrics that show the price hovering within the equilibrium zone, suggesting that the current pause may precede a larger directional move. The high-confluence support zone between $0.212 and $0.214, bolstered by the Ichimoku Span B, has already prompted intraday rebounds, hinting at strong buyer interest near that level. Meanwhile, resistance at the upper wedge boundary coincides with the Kijun-sen (baseline) around $0.225, creating a well-defined ceiling that needs to be breached for bullish momentum to resume. Dogecoin price outlook If Dogecoin manages a decisive four-hour candle close above…
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