• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Dogecoin

Dogecoin Price Forms A Falling Wedge Pattern, Can Price Touch $0.11?

anushsamal by anushsamal
2 months ago
in Dogecoin
Reading Time: 3 mins read

Over the past 48 hours, there has been a significant increase in the price of Dogecoin. This surge in value is attributed to market participants reacting positively to Twitter’s recent change of its home button to the doge meme. In the last 24 hours alone, the meme-coin experienced a boost of nearly 27%. It broke through the $0.10 price level.

The technical analysis of the coin also suggests an extremely bullish trend on the chart, with buyers rushing to the market and a surge in demand for the meme-coin. Accumulation has also seen a substantial positive shift.

Related Reading: Dogecoin Flips Cardano In Market Cap, Becomes 7th Largest Crypto

Furthermore, Dogecoin has formed a pattern indicating a potential trend reversal, which could further increase bullish momentum. However, it is important to note that a price pullback is still possible despite this pattern.

The coin must remain above the two vital price levels to continue its upward trend. Currently, Dogecoin remains stuck under a crucial resistance mark.

Dogecoin Price Analysis: One-Day Chart

Dogecoin
Dogecoin was priced at $0.096 on the one-day chart | Source: DOGEUSD on TradingView
At the time of writing, DOGE was priced at $0.096. The coin briefly revisited the $0.101 zone before dropping below the $0.098 mark. Overhead resistance for DOGE was set at $0.99, and breaking above this level could push the coin back above the $0.100 zone.
A falling wedge pattern has emerged for Dogecoin, indicating a potential trend reversal. This could further reinforce the upward momentum of the coin.
If DOGE surpasses the $0.100 mark, it may encounter another resistance at $0.102, breaking which the bulls could revisit $0.107 and eventually target $0.110.
Local support for Dogecoin was at $0.090; a drop from that level could drag the coin to $0.082. Therefore, it is essential that DOGE trades above the $0.082 support level to continue moving upward. The volume of DOGE traded in the last session was positive, indicating a rise in buying strength.

Technical Analysis

Dogecoin
Dogecoin was overbought on the one-day chart | Source: DOGEUSD on TradingView

Buying strength of DOGE witnessed a sharp surge, causing the asset to become overbought and overvalued at the time of writing. This was indicated by the Relative Strength Index (RSI) standing above 70, a signal for an overbought asset.

Typically, after being overbought, the asset’s price tends to undergo a significant pullback. Likewise, Dogecoin moved above the 20-Simple Moving Average (SMA) line. This signified that buyers were driving the price momentum in the market.

Dogecoin
Dogecoin formed buy signals on the one-day chart | Source: DOGEUSD on TradingView

With the increase in demand, other technical indicators have also aligned with the bulls. The Moving Average Convergence Divergence (MACD), which indicates price trends and reversals, turned green with growing green signal bars tied to buy signals for the coin at the time of writing.

Related Reading: Here’s Why Bitcoin Could Break At Least $33,000 In This Rally

Bollinger Bands also opened up significantly, indicating that the possibility of price volatility and fluctuation cannot be ignored.

Featured Image From UnSplash, Charts From TradingView.com
Tags: dogeDogecoindogeusddogeusdt
Tweet123Share196ShareSend
anushsamal

anushsamal

Related Posts

Dogecoin

Dogecoin Bounces Off $0.070 Mark, Awaits Breakthrough of Crucial Hurdle

14 hours ago
Dogecoin cryptocurrency physical coin held between two fingers.

Elon Musk Reveals Reason Behind Dogecoin Investment, But Why Is DOGE Down?

6 days ago
Dogecoin Ordinals

Dogecoin Transaction Count Rises 60X, But Why Are Prices Down?

1 week ago
Dogecoin

Dogecoin Multiple Attempts At $0.10: Will The Barrier Finally Be Broken?

2 weeks ago
Shiba Inu & Dogecoin Price Chart

Dogecoin, Shiba Inu Whales Move Massive Amounts, Dumping Going On?

2 weeks ago
Dogecoin

Dogecoin Sees Highest Transactions Count Ever Due DRC20 Madness

2 weeks ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Bware Labs Launches $INFRA Token, making high API...

    8 hours ago
  • Is InQubeta the Best Utility Crypto of 2023? Huge Growth...

    11 hours ago
  • Coinbase launches campaign to educate public on blockchain...

    12 hours ago
  • Utility Coins like Avorak AI will always outperform memes...

    12 hours ago
  • Expect Tremendous Returns for DigiToads (TOADS), Near...

    12 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.