• 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

How Long Will Dogecoin Remain Sideways As Sellers Threaten Bearish Breakout?

Christian Encila by Christian Encila
4 weeks ago
in Cryptocurrency Market News
Reading Time: 3 mins read

The sideways structure of Dogecoin continues to hold steady, but the looming threat of a bearish breakout is causing concern for investors. As sellers maintain the upper hand, many are left wondering if the popular cryptocurrency will be able to weather this storm or if a sharp decline is on the horizon.

Since late April, DOGE has been experiencing a period of price consolidation. Within this phase, its value has been fluctuating between $0.0763 and $0.0816, and it seems that this sideways pattern could continue if the current market conditions persist.

Will sellers push forward and cause a drop in DOGE’s value, or will the buyers step in to turn the tables? 

Related Reading: Shiba Inu: Whales Accumulate Yet Price Drops – What’s Going On?

DOGE’s Price Trends Bearish, With Possible Further Declines

Dogecoin’s price on CoinGecko currently stands at $0.07473, indicating a decline of 3.0% over the last 24 hours and a decrease of 6.5% over the past seven days.

The dip in value may cause concern among investors, but it also presents an opportunity for those looking to buy low and potentially profit from any future price increases.

Dogecoin’s recent price action has been indicating a bearish trend. It has remained below the moving averages, and has formed a bearish flag pattern, which emphasizes the sellers’ leverage in the market.

This situation makes a bearish breakout highly possible, especially if Bitcoin falls below $28k, which could push DOGE towards the swing lows of $0.06250 that were last seen in March and January.

Moreover, if DOGE drops beyond this support level in Q1 2023, it may reach the bearish target of $0.05828. These figures suggest that the trend is currently negative, and investors should take note of the potential risks associated with investing in DOGE.

Outlook For Dogecoin In The Coming Weeks

Recent price movements in Dogecoin are consistent with a bearish market phase with further price drops possible in the near future.

However, it is essential to note that the cryptocurrency market is highly volatile, and any sudden positive or negative news could impact DOGE’s value significantly.

DOGEUSD still on sluggish mode at 0.0747 on the daily chart at TradingView.com
Related Reading: Cardano TVL Climbs By 10% In A Day – Is ADA Set To Soar Once Again?

Traders and investors should pay attention to critical support levels, such as the $0.06250 swing lows seen in March and January, as well as the bearish target of $0.05828 based on the flag pole height. If DOGE continues to trend downwards, it is possible that these levels could be tested.

On the other hand, if DOGE’s price manages to break through the bearish flag pattern and rise above the moving averages, specifically the 50 EMA and 100 EMA, it could suggest a reversal of the current bearish trend.

Traders and investors should keep a close eye on the RSI and OBV, as well as any significant market news that could impact DOGE’s price.

-Featured image from SmartAsset.com

Tags: Doge priceDogecoinmeme coinsPrice action
Tweet123Share196ShareSend
Christian Encila

Christian Encila

Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada. Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week. When he's not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he'll ever understand his cat's thoughts and calmness.

Related Posts

Bluelight Game Mechanics Overview

Bluelight Game Mechanics Overview

1 hour ago
Celsius

Celsius Sets New Standard: $1 Billion In ETH Staked As Deposits Show No Sign Of Slowing

9 hours ago
SEC XRP Lawsuit Keeping The Market Flat? Investors look for Alternative Routes, is HedgeUp and Chainlink the Answer?

SEC XRP Lawsuit Keeping The Market Flat? Investors look for Alternative Routes, is HedgeUp and Chainlink the Answer?

14 hours ago
Baby Dogecoin Moves 2.5% in Holders favour, whilst HedgeUp Provides Investors with 300% gains

Baby Dogecoin Moves 2.5% in Holders favour, whilst HedgeUp Provides Investors with 300% gains

14 hours ago
ArbDoge AI Vs HedgeUp, AI Chatbot ChatGPT Predicts Who Reach $1

ArbDoge AI Vs HedgeUp, AI Chatbot ChatGPT Predicts Who Reach $1

15 hours ago
Baby DogeCoin (BABYDOGE) and HedgeUp (HDUP), Expected to 10X in June. Experts Explain why

Baby DogeCoin (BABYDOGE) and HedgeUp (HDUP), Expected to 10X in June. Experts Explain why

15 hours ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    3 days ago
  • Willing to buy new crypto: Here are the best 10...

    3 days ago
  • Best Crypto Meme Coin Presales in 2023

    3 days ago

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

  • Don’t get dumped on buying DOGE or SHIB, Avorak has...

    13 hours ago
  • Crypto Enthusiasts Believe DigiToads (TOADS) and Aave...

    14 hours ago
  • Investors Seeking High-Yield Cryptocurrency Investments...

    14 hours ago
  • Choosing the best Forex broker | A Comprehensive Guide

    18 hours ago
  • LUNC developers showcase Parity Upgrade Roadmap and...

    19 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

© 2023 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

© 2023 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.