Will DOGE Price Find Its Tail Under $0.050?
DOGE experienced a consolidation range breakout in the 4-hour chart.
After the breakout, the price is retesting the range, indicating a possible further decline.
DOGE might fall to the $0.050 level.
The daily chart shows a falling wedge pattern.
DOGE has dropped by 60% since November 2022.
There's a long consolidation range, with a fakeout at the $0.64 resistance.
Bears currently dominate the market.
The 4-hour chart shows clear consolidation with recent fakeouts.
Technical Indicators:
MACD: Bullish sprout at the support zone and declining bearish histograms.
RSI: Dipped below the midpoint but begins a recovery.
Potential outcomes:
A recovery could lead the price to $0.064.
A drop below $0.064 could send DOGE to $0.050.
After the breakout, the price is retesting the range, indicating a possible further decline.
DOGE might fall to the $0.050 level.
The daily chart shows a falling wedge pattern.
DOGE has dropped by 60% since November 2022.
There's a long consolidation range, with a fakeout at the $0.64 resistance.
Bears currently dominate the market.
The 4-hour chart shows clear consolidation with recent fakeouts.
Technical Indicators:
MACD: Bullish sprout at the support zone and declining bearish histograms.
RSI: Dipped below the midpoint but begins a recovery.
Potential outcomes:
A recovery could lead the price to $0.064.
A drop below $0.064 could send DOGE to $0.050.
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