Will Dogecoin (DOGE) Price See 30% Rebound or Crash?
The post Will Dogecoin (DOGE) Price See 30% Rebound or Crash? appeared on BitcoinEthereumNews.com. Dogecoin (DOGE) price has cooled off over the last two weeks after witnessing an energetic first half of September. For perspective, DOGE has lost about 25% of its value since reaching its February highs near $0.30 on September 13. That pullback has brought its price back to a well-watched confluence of support levels that have repeatedly sparked rebounds this cycle. Does DOGE have fuel for a double-digit rebound, or are we staring at a deeper reset? Defending This Level Can Unlock a 30% Dogecoin Rally From a longer-term lens, Dogecoin price has been trending upward since June, advancing roughly 60% over the past three months. In fact, the Dogecoin price has respected a rising trendline (white, dashed) that has served as a springboard for multiple rallies since April. What’s worth noting is that rebounds from this trendline support have historically produced a rally of 30-40%. DOGE price is approaching the trendline near $0.22 at the time of writing, but what’s even more striking is the confluence of multiple support levels in this area. For instance, the $0.2-$0.22 price band has a crucial horizontal support level, as well as the 200-day exponential moving average (EMA). EMA is a moving average that gives more weight to recent candles, showing the market’s prevailing direction. In other words, holding above the 200-day EMA indicates that the broader uptrend remains intact. All in all, if buyers defend $0.22 and reclaim momentum, a rebound into the $0.27–$0.29 range becomes very much plausible. This would unlock a 30% upside from the press time price. But a decisive break below the $0.20-$0.22 band would provoke a near-term dip toward $0.18. Dogecoin (DOGE) Price RSI Shows Bullish Divergence Near Key Support The Relative Strength Index (RSI), a popular oscillator that measures market momentum, stood at 43 at the press…
The post Will Dogecoin (DOGE) Price See 30% Rebound or Crash? appeared on BitcoinEthereumNews.com.
Dogecoin (DOGE) price has cooled off over the last two weeks after witnessing an energetic first half of September. For perspective, DOGE has lost about 25% of its value since reaching its February highs near $0.30 on September 13. That pullback has brought its price back to a well-watched confluence of support levels that have repeatedly sparked rebounds this cycle. Does DOGE have fuel for a double-digit rebound, or are we staring at a deeper reset? Defending This Level Can Unlock a 30% Dogecoin Rally From a longer-term lens, Dogecoin price has been trending upward since June, advancing roughly 60% over the past three months. In fact, the Dogecoin price has respected a rising trendline (white, dashed) that has served as a springboard for multiple rallies since April. What’s worth noting is that rebounds from this trendline support have historically produced a rally of 30-40%. DOGE price is approaching the trendline near $0.22 at the time of writing, but what’s even more striking is the confluence of multiple support levels in this area. For instance, the $0.2-$0.22 price band has a crucial horizontal support level, as well as the 200-day exponential moving average (EMA). EMA is a moving average that gives more weight to recent candles, showing the market’s prevailing direction. In other words, holding above the 200-day EMA indicates that the broader uptrend remains intact. All in all, if buyers defend $0.22 and reclaim momentum, a rebound into the $0.27–$0.29 range becomes very much plausible. This would unlock a 30% upside from the press time price. But a decisive break below the $0.20-$0.22 band would provoke a near-term dip toward $0.18. Dogecoin (DOGE) Price RSI Shows Bullish Divergence Near Key Support The Relative Strength Index (RSI), a popular oscillator that measures market momentum, stood at 43 at the press…
What's Your Reaction?
