Dogecoin

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Rekt

<p>The well-known technical analyst, Rekt Capital, recently <a href="https://twitter.com/rektcapital/status/1688532829691420672?s=20" target="_blank" rel="noopener noreferrer nofollow">shared</a> his insights on Twitter about the potential price behavior of Dogecoin ($DOGE). He suggested that if Dogecoin experiences a small relief rally this week, it would mirror the price behavior seen in previous retracements within the same pattern when Dogecoin faced resistance.</p> 
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<p>According to recent data from, altFINS, there has been a bullish breakout from a Falling Wedge pattern for Dogecoin. This event is often interpreted as a sign that buyers have successfully absorbed the supply from sellers, potentially leading to a reversal in market trends.</p> 
<p>The confirmation of this shift came when the price broke above the $0.07 resistance level and surpassed the 200-day moving average, which stood at $0.08. Market watchers are now anticipating that the price could revisit the $0.10 resistance level in the near future.</p> 
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<p>The Falling Wedge is a pattern that typically results in a bullish breakout. When the price breaks the upper trend line, it is expected to trend higher. Emerging patterns, which appear before a breakout occurs, can be traded by swing traders between the convergence lines. However, the majority of traders prefer to wait for a completed pattern with a breakout before placing a BUY order.</p> 
<p>At present, the market trend appears to be neutral on a short-term basis. However, on a medium-term basis, there is an uptrend, while a downtrend is observed on a long-term basis.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-1024x573.png" alt="" class="wp-image-308068" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-260-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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   Source: <a href="https://altfins.com/trade/dex?discountid=232" target="_blank" rel="noopener noreferrer nofollow">altFINS</a> 
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<p>The momentum in the market is mixed. The Moving Average Convergence Divergence (MACD) line is currently below the MACD signal line, indicating a bearish trend. However, the Relative Strength Index (RSI) is hovering around 50, which is generally considered neutral.</p> 
<p>In terms of support and resistance levels, the nearest support zone is at $0.070, which was the previous resistance level. Following this, the next support level is at $0.055. On the other hand, the nearest resistance zone is at $0.010, followed by $0.110.</p> 
<p>In conclusion, the market is showing signs of a potential reversal, with the bullish breakout from the Falling Wedge pattern being a key indicator. Traders and investors are advised to keep a close eye on these developments as they navigate their investment strategies.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/dogecoin-investors-told-keep-eyes-peeled-for-mysterious-buy-signal-predicted-to-cause-price-eruption/">Dogecoin About To Send Price Ballistic If This One Key Metric Crosses Decisive Threshold, Warns Analyst</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Dogecoin About To Send Price Ballistic If This One Key Metric Crosses Decisive Threshold, Warns Analyst

CaptainAltcoin

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