Convergence

Dogecoin

Satoshi

altFINS

<p>Dogecoin (DOGE) is currently trading in an uptrend, with the price action forming a rising wedge pattern on the charts. This technical setup suggests the potential for a breakout in the near future.</p>
<h2 class="wp-block-heading" id="rising-wedge-pattern-bullish-or-bearish-breakout">Rising Wedge Pattern: Bullish or Bearish Breakout?</h2>
<p>According to the technical analysis provided by altFINS, a rising wedge pattern typically forms after an uptrend and can indicate a potential bearish reversal in the original uptrend. The pattern is characterized by converging trendlines, with the price making higher highs and higher lows. Traders should be prepared for either a bullish or bearish breakout from this pattern.</p>
<p>In the case of a bullish breakout, Dogecoin could see a continuation of its uptrend, with the next upside target set at $0.20. However, if the price breaks below the lower trendline of the wedge, it could signal a trend reversal, with a potential downside risk to $0.12.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="571" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-1024x571.png" alt="" class="wp-image-503931" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-1024x571.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-300x167.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-767x428.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-1536x857.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-2048x1143.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-269x150.png 269w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-627x350.png 627w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173-788x439.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-173.png 1946w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<h2 class="wp-block-heading" id="trend-and-momentum-analysis">Trend and Momentum Analysis</h2>
<p>Currently, Dogecoin’s short-term, medium-term, and long-term trends are all pointing upwards, indicating a strong bullish sentiment in the market. However, the momentum has recently turned bearish, with the MACD (Moving Average Convergence Divergence) line crossing below the MACD signal line a few days ago. This bearish crossover suggests that the upward momentum may be slowing down.</p>
<p>The RSI (Relative Strength Index) indicates that Dogecoin is neither overbought nor oversold, with the RSI-14 level remaining between 30 and 70. This neutral position leaves room for the price to move in either direction, depending on the breakout from the rising wedge pattern.</p>
<p>altFINS has identified the nearest support zone for Dogecoin at $0.13, followed by $0.11. On the upside, the nearest resistance zone is located at $0.17, with the next resistance level at $0.20. These levels will be crucial in determining the direction of Dogecoin’s price action following the breakout from the rising wedge pattern.</p>
<h2 class="wp-block-heading" id="potential-for-new-all-time-highs">Potential for New All-Time Highs</h2>
<p>While the rising wedge pattern suggests a potential bearish reversal, <a href="https://x.com/JavonTM1/status/1798344217565274609?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1798344217565274609%7Ctwgr%5E1f05d8ceed12e90fb13d96ab6fb73958b6d1d290%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcaptainaltcoin.com%2F%3Fp%3D503929" target="_blank" rel="noopener noreferrer nofollow">analyst JAVON MARKS </a>has a more optimistic outlook for Dogecoin. According to MARKS, the current breakout trend indicates that Dogecoin could be on its way to new all-time highs, with the potential for a more than 4x increase in price.&nbsp;</p>
<p>The analyst even suggests that a Dogecoin price of over $10 may be possible based on the current trend.</p>
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<p>The post <a href="https://captainaltcoin.com/dogecoin-rising-wedge-pattern-suggests-potential-breakout-doge-could-spike-to-10/" rel="noopener noreferrer nofollow">Dogecoin Rising Wedge Pattern Suggests Potential Breakout: DOGE Could Spike To $10</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Dogecoin Rising Wedge Pattern Suggests Potential Breakout: DOGE Could Spike To $10

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