{"id":123189,"date":"2023-07-16T16:21:38","date_gmt":"2023-07-16T16:21:38","guid":{"rendered":"https:\/\/dripp.zone\/news\/bearish-pattern-raises-doubts-for-0-1-price-target-crypto-news\/"},"modified":"2023-07-16T16:21:40","modified_gmt":"2023-07-16T16:21:40","slug":"bearish-pattern-raises-doubts-for-0-1-price-target-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bearish-pattern-raises-doubts-for-0-1-price-target-crypto-news\/","title":{"rendered":"Bearish Pattern Raises Doubts For $0.1 Price Target\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-154360\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16211556\/R0Pr4sht-e1689522380569.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Dogecoin Price Analysis\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16211556\/R0Pr4sht-e1689522380569.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16211556\/R0Pr4sht-e1689522380569-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16211556\/R0Pr4sht-e1689522380569-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/16211556\/R0Pr4sht-e1689522380569-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 25 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Dogecoin Price Analysis: Over the past five weeks, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/dogecoin\/#:~:text=About%20Dogecoin%20(DOGE),the%20Coingape%20Crypto%20Price%20Page.\">dogecoin price<\/a> has shown a silent recovery within a rising wedge pattern.  The coin price has rebounded thrice from the pattern&#8217;s converging trendlines, indicating the strong influence of this setup on market participants.  So far the bullish recovery has registered 40% growth and reached a monthly resistance of $0.0748.  Can buyers continue this recovery to $0.1?<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/elon-musks-xai-token-price-skyrocket\/\">Elon Musk&#8217;s X.AI Shoots An Unrelated Token&#8217;s Price By 780%;  Crypto AI Tokens Also Up<\/a><\/p>\n<h2><b>Dogecoin Price Daily Chart<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Overhead supply hints the Dogecoin price could tumble 7% in the coming week<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The convergence of the 200-day EMA slope with the $0.0748 price level forms a significant area of \u200b\u200bresistance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The 24-hour trading volume in the Dogecoin coin is $450.5 Million, indicating a 56% loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Dogecoin Price Analysis\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/r\/R0Pr4sht.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/r\/R0Pr4sht.png\" alt=\"Dogecoin Price Analysis\" width=\"1946\" height=\"1104\"\/><\/noscript>Source-Tradingview <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Dogecoin price currently trades at the $0.0713 mark and witnesses supply pressure at the resistance trendline of the rising wedge pattern.  The formation of the hammer candle (long-tail and short-body at the top) at this resistance indicates the sellers are active and may plunge the prices back to lower supports. <\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">The potential reversal could pull the price back to the lower trendline, registering a potential loss of around 7%.  However, until the converging trendlines are intact, the DOGE price won&#8217;t witness a significant directional move.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">This narrowing range can be considered a no-trading zone, and a genuine breakout from either level of the wedge could bolster the respective trend.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Will Dogecoin Price Revisit $0.053?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/rising-wedge-pattern-how-to-trade-with-it-on-a-crypto-price-chart\/\">rising wedge pattern<\/a> observed in the Dogecoin price chart is typically considered a downtrend continuation pattern, providing a temporary pause for sellers to gather momentum.  Therefore, the popular memecoin is more likely to break the bottom trendline and plunge the prices by some 20% to hit $0.053.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Pivot Level: <\/b><span style=\"font-weight: 400;\">The Support\/Resistance indicator shows the Doge price could witness supply pressure at $0.0755 and $0.0846 and demand pressure at $0.064 and $0.055.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">The daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">rsi slope<\/a> above 60% reflects a strong bullish momentum.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA154360\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD154360\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 25 minutes ago Dogecoin Price Analysis: Over the past five weeks, the dogecoin price has shown a silent recovery within a rising wedge pattern. The coin price has rebounded thrice from the pattern&#8217;s converging trendlines, indicating the strong influence of this setup on market participants. So far the bullish recovery has registered 40% growth [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":123190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-123189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=123189"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123189\/revisions"}],"predecessor-version":[{"id":123191,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123189\/revisions\/123191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/123190"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=123189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=123189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=123189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}