Survive

Pepe Coin

Shiba Inu

The post <a href="https://coinpedia.org/price-analysis/will-doge-price-survive-market-pullback-for-a-2x-breakout-run/">Will DOGE Price Survive Market Pullback For A 2x Breakout Run?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
After early July, the correction is viewed as a temporary pullback to recuperate the bullish momentum. However, as one of the market’s fastest movers, meme coins experience a massive surge in selling momentum as the broader market corrects. In the last 24 hours, the leading assets such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), and BONK showed a 5-6% price drop.&nbsp; 
Is this pullback worth selling, or is holding for a rebound a better option? Read our <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/">DOGE price prediction</a> NOW to find out.&nbsp; 
<h2 class="wp-block-heading" id="h-dogecoin-price-performance">Dogecoin Price Performance</h2> 
Amid the July market recovery, the Dogecoin price rebounded sharply from the $0.915 support. The renewed recovery uplifted the asset by 57% to challenge the upper boundary of the channel wedge pattern at $0.143. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe3BVsAEmw4mFWQSZW2oJTce3cBZiIu7Nex7EDzlL-JFoRDqbmZ2-wxTzreOOPTSzgUag6nQBI8HKbxUglfxSzTGY8v2ruZmWW2ps2MGQaSUR99by6l2msjKYKPNAcS8y305oq8qr5r_5naf9q8cq_DMfvT?key=4eTodEA-VtD0oXk8fcN3Mw" alt="">
</figure> 
<a href="https://www.tradingview.com/x/CzFGMHIN/">Tradingview</a> 
The overhead resistance aligned with the recent market sell-off reverted the DOGE price by 13% to trade at $0.124. Meanwhile, the market cap of the biggest meme coin in the crypto world has dropped to $18.14 Billion. 
In theory, the falling wedge pattern is known to drive a steady downtrend between two converging trading pairs before buyers build sufficient momentum for an upside breakout. A recent reversal from the upper boundary hints that the correction trend is set to prolong, and sellers may remain a dominant player for a while. 
MACD: The MACD (Blue) and signal (orange) leaning towards a bearish crossover accentuate the wakening bullish momentum. If successful, the sellers could strengthen their grip and drive the meme coin lower. 
EMA: The DOGE price dip below the 200D EMA highlights a bearish sentiment among market participants.&nbsp; 
<h2 class="wp-block-heading" id="h-will-the-doge-price-breakout-run-surpass-0-25">Will The DOGE Price Breakout Run Surpass $0.25?</h2> 
With sustained selling, a bearish reversal with the wedge pattern could push the DOGE price over 20%. This will retest the psychological level of $0.1 and the support timeline in action.&nbsp; 
However, as mentioned above, the falling wedge pattern typically indicates the maturity of a downtrend. As the broader market remains bullish, the DOGE buyers could counterattack at $0.1 and aim to breach the upper boundary. 
A bullish breakout from the wedge pattern will signal an early sign of trend reversal and bolster a rally targeting a $0.228 peak.

Will DOGE Price Survive Market Pullback For A 2x Breakout Run?

Table of Contents

CoinPedia News

Outros artigos publicados em 25 de jul. de 2024

India cracks down on darknet drug deals using crypto tracking

Bybit launches Spot Liquidity Pairing Program to enhance liquidity for projects

Koei Tecmo’s Rise of the Ronin demo available now on PlayStation 5

Binance Exec's Health Deteriorates in Nigeria Prison, Wheelchair-Bound in Court

Bitcoin Plunges Amid U.S. Tech Rout

Acre launches Bitcoin Staking on mainnet in partnership with Xverse

Join our free newsletter for daily crypto updates!