Dogecoin

Dogecoin is currently forming an intriguing setup on the daily chart, which could potentially signal a major shift in market direction. After months of downward pressure, the price action has formed a falling wedge pattern. This pattern, often recognized as a bullish reversal indicator, suggests that Dogecoin might prepare for a significant breakout.According to analyst Ali Martinez, the key level to watch is $0.10. A sustained close above this mark could ignite a bullish rally, targeting $0.15 in the short term.The falling wedge is identified by converging trend lines connecting lower and lower highs. This contraction of price movement often indicates the exhaustion of selling pressure, leading to a potential upward breakout.For <a href="https://cryptotale.org/dogecoin-shows-signs-of-recovery-after-market-decline/" rel="noopener noreferrer nofollow">Dogecoin</a>, the upper boundary of this wedge acts as immediate resistance. The price needs to decisively break above this line to confirm the bullish reversal. Once the breakout occurs, Dogecoin could aim for the Fibonacci retracement levels, which are critical in determining potential targets.Dogecoin is trading around $0.097, with support testing near $0.0952. If this level holds, it would reinforce the strength of the falling wedge pattern. A bounce from this support could see Dogecoin rally towards key resistance levels.The first significant target is $0.1536, which aligns with the 61.8% Fibonacci retracement level. Beyond that, the next resistance lies at $0.1831, marking the 78.6% retracement. Ultimately, if bullish momentum accelerates, the price may even test the $0.2290 zone, a critical long-term resistance level.<a href="https://cryptotale.org/dogecoins-falling-wedge-will-doge-hit-the-0-15-level/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Dogecoin’s Falling Wedge: Will DOGE Hit the $0.15 Level?

CryptoTale

Other articles published on Sep 9, 2024

Ethereum DEX volume rises: Uniswap, Curve Finance, Balancer lead

Mega Dice token presale ends this month as Telegram GambleFi narrative heats up

Bitcoin still tracks equities, while altcoins steal the show

Toncoin chain expands despite crackdown on Telegram

Announcing the Launch of Mint Blockchain Public Mainnet: A New Era Begins

TEPCO Subsidiary: Surplus Electricity for Bitcoin Mining Could Generate $2.5 Billion in Annual Re...

Join our free newsletter for daily crypto updates!