8 hour ago
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Dogecoin Price Could Drop to $0.16 Amid Double Top Pattern
Crypto analysts are predicting potential declines for Dogecoin based on technical patterns:
- Analyst Tripy identified a double-top Adam and Eve pattern, suggesting a possible drop to $0.16.
- The MACD and volume indicators support the possibility of a sell-off. However, a rebound from the $0.16 level is expected.
- Current trading shows Dogecoin at approximately $0.163, down over 5% in 24 hours.
- Analyst XAU noted bearish pressure with a potential decline to $0.15, following Breaks of Structure (BOS) and Market Structure (MSS).
- Attempts to reach $0.2 have failed, indicating continued bearish momentum.
In contrast, analyst Trader Tardigrade sees a potential rally:
- Dogecoin has reentered a broadening wedge pattern, last seen before a significant surge in 2024.
- A rally to $0.8 is still possible, presenting a new all-time high (ATH).
- Short-term predictions suggest reclaiming the $0.2 level, potentially reaching $0.26.
