If Buyers Fail to Hold Key Support, DOGE Price May Drop by 20%

The Dogecoin price has been fluctuating between two trendlines for the past five months, with a falling wedge pattern indicating a continued downtrend. If the daily candle closes below the immediate support of $0.08, a significant correction may occur, leading to a potential 22% loss. However, the bearish reversal could face support at $0.07 or $0.065, and the falling wedge pattern is a famous bullish continuation pattern. Eventually, the dogecoin price will breach the overhead trendline as an early sign of a trend reversal. Technical indicators, such as the daily RSI slope and EMAs, reflect a possible upcoming downturn in the DOGE price. The 24-hour trading volume in the Dogecoin coin is $771 billion, indicating a 17% loss. Personal financial loss is not the responsibility of the author or publisher. It is crucial to conduct relevant market research before investing in cryptocurrencies.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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