Tail

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/doge-price-analysis-will-doge-price-find-its-tail-under-0-050/">DOGE Price Analysis: Will DOGE Price Find Its Tail Under $0.050?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Trapped in a long-term downtrend, the <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/" rel="noopener noreferrer nofollow">DOGE price</a> is down by almost 60% since November 2022. With the crucial EMAs maintaining a downtrend, the future seems bleak for the dog-themed memecoin.&nbsp; 
In the daily chart, the DOGE price action displays a falling wedge pattern with an ongoing correction phase. Moreover, the DOGE price action mimics a head and shoulder pattern with the fakeout of $0.64 during the consolidation phase.&nbsp; 
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 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/12141228/DOGEUSD_2023-09-12_13-33-37-1024x463.png" alt="" class="wp-image-228923" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/12141228/DOGEUSD_2023-09-12_13-33-37-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/12141228/DOGEUSD_2023-09-12_13-33-37-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/12141228/DOGEUSD_2023-09-12_13-33-37-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/12141228/DOGEUSD_2023-09-12_13-33-37-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/12141228/DOGEUSD_2023-09-12_13-33-37-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/12141228/DOGEUSD_2023-09-12_13-33-37.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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In hindsight, the drastic 4.20% fall on the 10th and 11th of September led to the head and shoulder breakdown.&nbsp; 
Currently, the DOGE price trades at $0.610 with a higher price rejection in the intraday candle that displays a retest of the bearish breakdown. Moreover, it promotes the possibility of a downtrend continuation.&nbsp; 
Coming to the technical indicators, the MACD indicator displays a bearish crossover. Meanwhile, the RSI indicator approaches the oversold boundary.&nbsp; 
In the 4-H chart, the DOGE price action displays a quick reversal to retest the broken range at $0.61. If the bearish supply increases at the $0.61 resistance zone, the downtrend continuation can break under the $0.59 mark.&nbsp;This increases the possibility of a downfall with a post-retest reversal. 
The DOGE price action can challenge the support trendline of the falling wedge pattern and reach the $0.053 mark before taking a bullish reversal. This will lead to extreme pressure on upcoming support levels and challenge the bullish dominance.&nbsp;

DOGE Price Analysis: Will DOGE Price Find Its Tail Under $0.050?

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