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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/doge-price-analysis-will-dogecoin-ignite-a-rally-in-memecoins-with-0-065-breakout/">DOGE Price Analysis: Will Dogecoin Ignite A Rally in Memecoins With $0.065 Breakout?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the ongoing correction, Dogecoin falls 25% in value in just 23 days, reaching the bottom support level of $0.60. Falling around 20% last week, the crashing markets fueled the negative cycle in Dogecoin, breaking multiple support levels.&nbsp;</p> 
<p>However, the meme coin finds support and hatches a reversal plan to reboot a bull run.&nbsp;</p> 
<h2 id="dogecoin-sellers-dominate-the-1-week-charts" data-name="dogecoin-sellers-dominate-the-1-week-charts" class="wp-block-heading">Dogecoin Sellers Dominate The 1-Week Charts&nbsp;</h2> 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh3.googleusercontent.com/RxPPKHom8kwX25EVyJFvKLBZ2Z8OiJwaUvJGj0Tfj1R6yIPWBd8-XKbvCmLo2LEJgOzgg-jVh4DxBsgZul3ato-IdWqTzA7iz7WFPH_Un64739SSp1VzraFDI1KY3JOSpEsfScZZHJS-Yzv5YJx0vXY" alt=""> 
</figure> 
<p>In the 1-week chart, Dogecoin presents a sharp downtrend within a falling wedge since November 2022. Completing the recent negative cycle, the lower price rejection from the support trendline and buoyancy above $0.060 teases a sharp upcycle.&nbsp;</p> 
<p>Moreover, the reversal rally can challenge the overhead resistance trendline moving along with the 50-week EMA. In the case of the confluence resistance breakout, Dogecoin is set to embark on a solid bullish path.&nbsp;</p> 
<h2 id="doge-buyers-hatch-a-reversal-plan" data-name="doge-buyers-hatch-a-reversal-plan" class="wp-block-heading">DOGE Buyers Hatch A Reversal Plan</h2> 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh6.googleusercontent.com/ipBWrer5XeqJKnmpeF7PyGdFIhpgi-Sn7v6xuX0kekWVRfN2vZc_4P2-BHRSqJmow6F7JVHXfqLoqHA9bSW_MgbrN2oC2gq9ZQGEPxqE6lQoI5fmrB4JF-_ZG7yruUG9qIvlKa5c02J64H6w2O4_Zmc" alt=""> 
</figure> 
<p>Following the drastic crash last week, the DOGE prices manages to avoid a downfall at $0.060. Dogecoin forms a double bottom pattern in the 4H chart, leading to a sideways trend, teasing a potential reversal.&nbsp;</p> 
<p>With a neckline at $0.065, the breakout rally can improve the meme coins sentiments and helps an overall sectorial betterment. The breakout rally will likely face the 50-day EMA before challenging the $0.070 mark.&nbsp;</p> 
<p>On the flip side, a bearish continuation will lead to a $0.060 breakout dropping Dogecoin to lower levels. As per the Automatic Fibonacci trend retracement, the support levels after the $0.060 breakout are present at $0.056 and $0.053.</p>

DOGE Price Analysis: Will Dogecoin Ignite A Rally in Memecoins With $0.065 Breakout?

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