Show

Dogecoin

<p>Dogecoin, the popular cryptocurrency, has recently showcased a promising bullish breakout according to a technical analysis from <a href="https://captainaltcoin.com/go/altfins/" target="_blank" rel="noopener noreferrer nofollow">altFINS</a>. This development has caught the attention of many in the crypto community, signaling a potential shift in market dynamics.</p> 
<h2 class="wp-block-heading" id="the-falling-wedge-pattern">The Falling Wedge Pattern</h2> 
<p>One of the most talked-about patterns observed in Dogecoin’s price movement is the Falling Wedge. This pattern is typically associated with a bullish breakout. When the price surpasses the upper trend line, it’s generally expected to trend upwards. While some traders might take advantage of emerging patterns before a breakout, the majority tend to wait for a completed pattern followed by a breakout before placing a BUY order.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-1024x573.png" alt="" class="wp-image-314363" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-768x430.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-2048x1147.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492-788x441.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-492.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>In Dogecoin’s case, the breakout was further confirmed when its price not only surpassed the $0.07 resistance but also went above the 200-day moving average, reaching $0.08. These levels are currently being retested, leading many to speculate that the price might soon approach the $0.10 resistance.</p> 
<p>When it comes to Dogecoin’s trend, it’s observed to be on an uptrend on a medium-term basis. However, opinions are divided when looking at short- and long-term perspectives, with many deeming it neutral.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label"> 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Unibot: Trading Intelligence that Makes You 7x More Successful! 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Discover the edge in crypto trading with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Unibot" href="https://captainaltcoin.com/go/unibot/" data-shortcode="true">Unibot</a> – a user-friendly Telegram bot that boasts a 35% profitability rate amongst users, seven times higher than the average trader (only 5% of traders are profitable)! <br><br>Experience top-notch features like decentralized copytrading, DEX-based limit orders, and protection against MEV bots. <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Unibot" href="https://captainaltcoin.com/go/unibot/" data-shortcode="true"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Click to connect with Unibot <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"></a>! </p> 
    <p></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The momentum surrounding Dogecoin is currently mixed. While the MACD Line being below the MACD Signal Line indicates a bearish sentiment, the RSI hovering around 50 paints a neutral picture. These mixed signals have left a part of the community in anticipation, while others remain cautiously optimistic.</p> 
<p>For those closely monitoring Dogecoin’s price, the nearest support zone is pegged at $0.070, which was a previous resistance. Following that, the next support is expected at $0.055. On the flip side, the resistance zones to watch out for are $0.010 and then $0.110.</p> 
<p>Dogecoin is trading at a price of $0.070134 and experienced a decline in the last 24 hours, with a trading volume of $572,759,614.15. This represents a 5.57% price drop in the last day and a 6.97% decrease over the past week.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">Tw</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">i</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">tter</a> </strong>and <strong><a href="https://www.facebook.com/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/dogecoin-price-eyes-0-10-after-decisive-breakout-is-this-just-a-dead-cat-bounce/">Dogecoin Price Eyes $0.10 After Decisive Breakout – Is This Just a Dead Cat Bounce?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Dogecoin Price Eyes $0.10 After Decisive Breakout – Is This Just a Dead Cat Bounce?

Table of Contents

CaptainAltcoin

Other articles published on Aug 16, 2023

Coinbase has been Approved for US Crypto Futures Trading!

Helio Protocol Launches SnBNB Liquid Staking On PancakeSwap

Singapore Police Arrest Over 10 in a Billion Dollar Money Laundering Case!

Axelar Foundation Introduces AXL Token for Cross-Chain Communication

5 Best UK Blue-Chip Stocks to Discover in 2023 for Good Incomings

Ledger announces U.S. PayPal integration, lets users buy crypto from within app

Join our free newsletter for daily crypto updates!