Dogecoin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/doge-price-analysis-is-doge-price-warning-a-crash-to-0-050/">DOGE Price Analysis: Is DOGE Price Warning A Crash To $0.050?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
The daily chart of DOGE price action shows a falling wedge pattern with an ongoing correction phase. The <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/" rel="noopener noreferrer nofollow">Dogecoin price </a>action also forms a long consolidation range with a fakeout of the $0.64 resistance zone. 
Furthermore, the bears are in control as the price of DOGE has dropped by 60% since November 2022, trapped in a long-term downtrend. The future appears bleak for the dog-themed memecoin as the key EMAs continue to trend downward. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/22143307/DOGEUSD_2023-09-22_13-43-13-1-1024x463.png" alt="" class="wp-image-232006" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/22143307/DOGEUSD_2023-09-22_13-43-13-1-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143307/DOGEUSD_2023-09-22_13-43-13-1-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143307/DOGEUSD_2023-09-22_13-43-13-1-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143307/DOGEUSD_2023-09-22_13-43-13-1-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143307/DOGEUSD_2023-09-22_13-43-13-1-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143307/DOGEUSD_2023-09-22_13-43-13-1.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Currently, the DOGE price ongoing brawl between bulls and bears is evident within the consolidation range. Moreover, due to the market-wide correction, the recent red candle warns of a bearish outcome.&nbsp; 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/22143310/DOGEUSD_2023-09-22_13-42-24-1-1024x463.png" alt="" class="wp-image-232007" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/22143310/DOGEUSD_2023-09-22_13-42-24-1-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143310/DOGEUSD_2023-09-22_13-42-24-1-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143310/DOGEUSD_2023-09-22_13-42-24-1-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143310/DOGEUSD_2023-09-22_13-42-24-1-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143310/DOGEUSD_2023-09-22_13-42-24-1-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/22143310/DOGEUSD_2023-09-22_13-42-24-1.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
In the 4-hour chart, the consolidation range becomes even clearer, with fakeouts of either side evident over the past weeks. However, the recent fallback faces opposition from the buyers present at the bottom support, leading to a reversal sprout.&nbsp; 
Nevertheless, the overhead supply pressure and the fear-covered market conditions may soon break down the range. Currently, the DOGE price trades at $0.0617 while showing some signals of a bullish recovery. 
Technical indicators: 
MACD indicator: With the bullish sprout at the support zone, the bearish histograms are on a decline. This increases the possibility of a bullish crossover.&nbsp; 
RSI indicator: Falling sharply under the halfway line, the RSI line starts a small recovery phase.&nbsp; 
<h2 class="wp-block-heading" id="h-will-doge-price-manage-a-recovery">Will DOGE Price Manage A Recovery?</h2> 
With a recovery sprouting in the 4-hour chart, the chances of a bull cycle are minimal compared to a prolonged sideways trend. Therefore, the DOGE price may soon hit the overhead zone at $0.064 and elongate the consolidation range.&nbsp; 
On the flip side, a downfall below $0.064 will plunge the DOGE price lower to the $0.050 psychological mark.

DOGE Price Analysis: Is DOGE Price Warning A Crash To $0.050?

Table of Contents

CoinPedia News

Other articles published on Sep 22, 2023

U.S. Senator Menendez is about to go to prison for bribery

WSJ’s Tether narrative is misleading, claims cryptocurrency giant

Binance and crypto regulations: Interview with David Prinçay

AI Startup Empowers People with Disabilities in Thailand’s Labor Force

CZ, Binance asks court to ignore SEC’s silly lawsuit

LUSD Plummets 100% as XRP-Supporting Linear Finance Suffers Major Attack

Join our free newsletter for daily crypto updates!