Elite

Dogecoin

Rekt

<p>Dogecoin faced a setback last week in its attempted upside breakout, according to crypto analyst Rekt Capital. In a recent <a href="https://twitter.com/rektcapital/status/1719083308636676514" target="_blank" rel="noreferrer noopener nofollow">tweet</a>, he highlighted that Dogecoin failed to close its weekly candle above the key long-term resistance of its channel top.</p> 
<figure class="wp-block-image size-large">
 <img decoding="async" loading="lazy" width="1024" height="726" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-1024x726.png" alt="" class="wp-image-367288" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-1024x726.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-300x213.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-767x544.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-1536x1089.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-2048x1452.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-494x350.png 494w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768-788x558.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-768.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>Historically, when Dogecoin sees a weekly close beneath the channel top after attempting to break out above it, some downside often follows in subsequent weeks. This makes last week’s candle close discouraging for Dogecoin bulls eager to see a sustained push higher.</p> 
<p>However, Rekt Capital notes that there could still be some hope for Dogecoin if it can maintain the price levels it reached last week. If Dogecoin can now hold those weekly highs and reclaim the channel top as support, it may have another chance at powering above that key long-term overhead barrier.</p> 
<p>But Rekt Capital makes clear that the unconvincing candle close is a complication that delays the upside breakout for Dogecoin until it can strengthen its technical posture. </p> 
<p>At best, Dogecoin appears to have reached an indecision point of formidable long-term resistance. It needs to either gather itself through consolidation or risk rolling over if it is unable to recapture those highs. Relying on Dogecoin to break out sustainably after this setback could be highly speculative.</p> 
<p>Read also:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/are-trb-whales-stockpiling-large-exchange-withdrawals-precede-43-tellor-pump/" target="_blank" rel="noreferrer noopener">Are TRB Whales Stockpiling? Large Exchange Withdrawals Precede 43% Tellor Pump</a></li> 
 <li><a href="https://captainaltcoin.com/top-5-cryptocurrencies-with-potential-to-outperform-bitcoin/" target="_blank" rel="noreferrer noopener">Top 5 Cryptocurrencies with Potential to Outperform Bitcoin</a></li> 
 <li><a href="https://captainaltcoin.com/rollbit-rlb-surges-to-new-highs-as-analysts-eye-potential-rally-to-1-but-theres-a-catch/" target="_blank" rel="noreferrer noopener">Rollbit (RLB) Surges to New Highs as Analysts Eye Potential Rally to $1, but There’s a Catch</a></li> 
</ul> 
<p>For now, Rekt Capital’s analysis suggests traders exercise caution with bullish Dogecoin bets until it manages to close firmly above its channel top hurdle. Until then, its technical profile indicates lingering risks of another leg lower rather than smooth sailing to the upside.</p> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-nofollow-sponsored-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     <strong>74% of retail CFD accounts lose money.</strong>
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/dogecoin-breakout-postponed-elite-analyst-explains-why-doge-will-have-a-complicated-week/">Dogecoin Breakout Postponed, Elite Analyst Explains Why DOGE Will Have a Complicated Week</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Dogecoin Breakout Postponed, Elite Analyst Explains Why DOGE Will Have a Complicated Week

Table of Contents

CaptainAltcoin

Other articles published on Oct 31, 2023

Entrepreneur D. Weisberger: Bitcoin macroeconomics is ‘overwhelmingly positive’

Earnings and Dividends Ahead, Is Pfizer Stock A Buy Now?

MelegaSwap DEX Rockets to Coingecko, Expanding Its Reach and Empowering Partner Projects

President Biden’s Executive Order Sets New Standards for AI with a Focus on Consumer Welfare

Why KASPA (KAS) Could 100x From Its Current Price: Analyst

Bitcoin (BTC) Price Analysis: Bears Spooked By 27% October Rally – 1 November 2023

Join our free newsletter for daily crypto updates!