Dogecoin

Bitcoin

Reversal

Dogecoin Price Analysis: The ongoing correction trend in the crypto market took a halt on Tuesday as the <a href="https://coingape.com/why-is-bitcoin-down-today/">Bitcoin price</a> rebounded from the $60000 support. The 2.3% jump in BTC price sparked a fresh relief rally in the altcoin market especially in volatile assets like Meme coin. The Dog-themed memecoin DOGE is up 7.3% today developing a reversal pattern at a multi-month support. 
Also Read: <a href="https://coingape.com/bitcoin-price-flag-pattern-on-chain-data-signal-reversal-88k-soon/">Bitcoin Price: Flag Pattern And On-Chain Data Signal Reversal To $88K Soon</a> 
<h2 id="b-dogecoin-price-analysis-flag-pattern-and-double-bottom-indicate-potential-surge-b"> Dogecoin Price Analysis: Flag Pattern and Double Bottom Indicate Potential Surge</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/9/95pdt18T.png" alt="BINANCE:DOGEUSDT " width="1824" height="843">
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 Dogecoin Price Analysis| Tradingview
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Since late March, the <a href="https://coingape.com/price/dogecoin/">Dogecoin price</a> has witnessed a steady correction under the influence of flag pattern formation. The two converging trendlines acting as dynamic resistance and support have tumbled the asset value from $0.228 to $0.113 registering a 50%. 
If the pattern holds true, the DOGE price is under a temporary pullback which allows it to replenish exhausted bullish momentum for a higher rally. As the selling pressure in the crypto market eased, this Dog-themed memecoin stabilized above the pattern’s lower trendline at $0.113. 
<blockquote>
 An analysis of the 4-hour chart shows a double bottom pattern, at the aforementioned support. If the buyers flip the $0.129 resistance into potential support, the <a href="https://coingape.com/markets/dogecoin-price-prediction-how-to-survive-escalating-doge-price-dive/">DOGE price</a> could rise another 10% to target the overhead trendline at $0.14.
</blockquote> 
For buyers to regain better control over this asset, a sustainable breakout from the downsloping is needed. Doing so will signal the end of the correction pattern and bolster buyers to chase a potential target of $0.175, followed by $0.228. 
On a contrary note, the correction trend will prolong until the two converging trendlines are intact. 
<h2 id="b-technical-indicator-b">Technical Indicator</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">RSI: The daily Relative Strength Index rebounded at the 30% neckline of the oversold region highlighting the increasing buying pressure for this asset after a notable correction.</li> 
 <li style="font-weight: 400;" aria-level="1">EMAs: The 50W <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">Exponential Moving Average</a> slope adds a layer of support at $0.113 to prevent further correction.</li> 
</ul> 
The post <a href="https://coingape.com/markets/dogecoin-price-analysis-doge-reclaim-0-15-june-end/">Dogecoin Price Analysis: Will DOGE Reclaim $0.15 Before June End?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Dogecoin Price Analysis: Will DOGE Reclaim $0.15 Before June End?

Зміст

Coingape News Media

Інші статті, опубліковані 25 черв. 2024 р.

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