Dogecoin At Make-Or-Break Point After Multi-Year Trendline Test
Dogecoin (DOGE) closed last week on a bullish note after testing critical technical levels that could define its next directional move. The weekly chart on Binance (DOGE/USDT) reveals that DOGE is currently trading just above the significant 0.786 Fibonacci retracement level at $0.167. This retracement is drawn from the all-time low at $0.0805 to the peak of $0.4844. Dogecoin Reversal Confirmed? A notable technical development is the interaction with a long-standing descending trendline, extending from the May 2021 all-time high. DOGE recently retested this trendline as support after....
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Elon Musk could play a key role in reviving the Dogecoin market from the ongoing, TerraUSD-led bearish slumber. Dogecoin (DOGE) shows the prospect of undergoing a strong price rebound after reaching a technical support confluence on May 12.DOGE price 25% bounce incoming?DOGE's 45% price drop to $0.065 this week, or a 90% decline from its record high of $0.76 a year ago, was met with decent buying sentiment. As a result, the token underwent a modest price rebound on May 12, rising over 10% to $0.078.Interestingly, Dogecoin's upside retracement move started near a confluence of two support....
Dogecoin (DOGE) has been in a state of horizontal consolidation since mid-August, as it trades within the narrow range of $0.068 and $0.053. This period of consolidation has been marked by daily charts adorned with short-bodied candlesticks, a visual testament to the lack of enthusiasm from both buyers and sellers. It’s a curious phase in the world of DOGE, where the price appears to be biding its time, awaiting a catalyst to break free from this stasis. However, recent market fluctuations have cast a shadow over this tranquility, pushing DOGE closer to a foundational support level,....
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