Satoshi

Dogecoin

Rekt

Coin

<p>Dogecoin (DOGE) is currently undergoing a critical macro retest after validating a Head &amp; Shoulders formation on its price chart. Rekt Capital’s recent technical analysis <a href="https://newsletter.rektcapital.co/altcoin-market-update7/" target="_blank" rel="noopener noreferrer nofollow">indicates</a> that the completion of this pattern has resulted in a significant decline in DOGE’s price, which has now reached a confluent area of support, marked by the blue macro-downtrend line and the black range-low support.</p>
<p>The successful retest of this key support area is crucial for Dogecoin, as it could potentially confirm a new macro uptrend for the meme-inspired cryptocurrency. However, the confluence between the macro-downtrend and the range low appears differently across various timeframes, with the weekly chart showing an almost perfect alignment, while the monthly chart displays an approximate confluence.</p>
<h2 class="wp-block-heading" id="potential-for-further-downside-before-uptrend-confirmation">Potential for Further Downside Before Uptrend Confirmation</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-1024x723.png" alt="" class="wp-image-485306" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-1024x723.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-768x542.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-2048x1446.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40-788x556.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-40.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The difference in the confluence across timeframes suggests that DOGE could still experience further downside pressure, potentially dipping below the black Range Low to touch the blue Macro Downtrend on the Monthly timeframe. It is important to note that this price development would still be considered technically sound for Dogecoin.</p>
<p>If Dogecoin manages to successfully retest the Macro Downtrend/Range Low area, it would be a significant milestone in confirming a new macro uptrend for the cryptocurrency. This development would likely instill confidence in DOGE investors and could potentially attract new buyers to the market.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="descending-triangle-breakout-and-price-correction">Descending Triangle Breakout and Price Correction</h2>
<p>In a separate <a href="https://twitter.com/ali_charts/status/1785808743709434096" target="_blank" rel="noopener noreferrer nofollow">tweet</a>, crypto analyst Ali highlighted that Dogecoin has once again broken out of a descending triangle pattern in 2024. This breakout is currently being followed by a 47% price correction, which is notably similar to corrections observed in previous cycles.</p>
<p><strong><em>Do Checkout: <a href="https://captainaltcoin.com/memecoin-watch-bonk-nears-key-resistance-potential-breakout-pepes-pattern-signals-uptrend/" target="_blank" rel="noopener noreferrer nofollow">Memecoin Watch: BONK Nears Key Resistance – Potential Breakout? PEPE’s Pattern Signals Uptrend</a></em></strong></p>
<p>The analyst suggests that this correction could be the catalyst for the next Dogecoin bull run, as historical data indicates that such corrections have often preceded significant price rallies for the meme-inspired cryptocurrency.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="669" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-1024x669.png" alt="" class="wp-image-485298" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-1024x669.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-300x196.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-767x501.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-1536x1003.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-2048x1337.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-230x150.png 230w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-336x220.png 336w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-536x350.png 536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39-788x514.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-39.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="implications-for-dogecoin-s-future-price-action">Implications for Dogecoin’s Future Price Action</h2>
<p>The ongoing macro retest and the potential confirmation of a new uptrend could have significant implications for Dogecoin’s future price action. If the cryptocurrency successfully defends the key support levels and establishes a new macro uptrend, it could attract increased investor interest and lead to a sustained price rally.</p>
<p>However, it is essential to consider that the cryptocurrency market is highly volatile and subject to rapid changes in sentiment. While technical analysis can provide valuable insights into potential price movements, it is not a guarantee of future performance.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></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/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" 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-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </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/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/dogecoins-head-shoulders-pattern-sparks-macro-retest-analyst-identifies-potential-catalyst-for-doge-bull-run/" rel="noopener noreferrer nofollow">Dogecoin’s Head &amp; Shoulders Pattern Sparks Macro Retest: Analyst Identifies Potential Catalyst for DOGE Bull Run</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Dogecoin’s Head & Shoulders Pattern Sparks Macro Retest: Analyst Identifies Potential Catalyst for DOGE Bull Run

目次

CaptainAltcoin

2024年5月2日公開の他の記事

Eclipse And Neon EVM Drive Solana-Ethereum Integration For Blockchain Interoperability

How Does Federal Reserve Policy Impact Bitcoin?

Market Manipulation, Bitcoin ETF Outflows, FUD Rising; Crypto Dip Barrels on, Parabolic Trend on ...

Is Bitcoin Headed for $54K? Here’s What Experts Say

Binance ties SAFU fund to USDC: Is the fund missing out on potential gains?

Top 4 Trading Bots for Solana on Telegram

ニュースレターを購読して暗号資産の最新情報を毎日入手！