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DOGE Technical Analysis: Can Dogecoin Rise 40% To Test 200-day EMA?


DOGE Technical Analysis: Bulls Fightback in DOGE, Aims to Gain Trend Control

DOGE coin price shows a discount of 85% from the all-time high level of $0.7315  as the resistance trendline influences bearishness.  Key technical points: DOGE price surpasses the $0.10 mark. However, Memecoin struggles to surpass the long-coming resistance trendline.  The 24-hour trading volume of Dogecoin is $517 Million, marking a 9.50% rise.  Past Performance of DOGE DOGE coin price shows a long-coming downtrend in action resulting in a highly bearish resistance trendline that has crushed multiple bullish attempts. The downfall accounts for a 65% discount resulting in lower high formations under the trendline influence. However, the $0.10 breakout teases the trendline breakout possibility.  Source-Tradingview DOGE Technical Analysis  DOGE coin price forms a falling wedge pattern with a new-coming descending support trendline indicating a breakout shortly, as the price bottles up the pattern. Hence, an entry opportunity to capture the upcoming.  The multiple failures to sustain above the 50-day EMA after the death cross-promote the downtrend continuation. However, the 50-day EMA breakout could result in a price jump to the 200-day EMA, accounting for a 40% surge.  RSI Indicator: The RSI slope reflects an end of the long-coming downtrend with a spike above the center mark and the 14-day SMA. Moreover, the bullish commitment is evident with the bullish divergence breakout. MACD Indicator: The MACD and signal end the downtrend after regaining the bullish alignment with a positive crossover. It showcases a solid underlying bullishness that could result in the wedge breakout.  In short, DOGE technical analysis gives a bullish bias that might end the long-coming downfall shortly. Upcoming Trend  DOGE coin price breaks the $0.10 mark to reach the $0.125 mark as the buying pressure grows along with the buying indications. However, the bullish breakout of the wedge pattern also puts a potential result of a 40% price jump to the 200-day EMA.  Support Levels: $0.10 and $0.090 Resistance Levels: $0.15 and $0.20

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