{"id":125732,"date":"2023-07-21T20:21:36","date_gmt":"2023-07-21T20:21:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/is-dogecoin-price-poised-for-a-20-downfall-key-indicators-to-watch-crypto-news\/"},"modified":"2023-07-21T20:21:39","modified_gmt":"2023-07-21T20:21:39","slug":"is-dogecoin-price-poised-for-a-20-downfall-key-indicators-to-watch-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/is-dogecoin-price-poised-for-a-20-downfall-key-indicators-to-watch-crypto-news\/","title":{"rendered":"Is Dogecoin Price Poised for a 20% Downfall?  Key Indicators to Watch\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-154946\">\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\/22013629\/QhrtryXS-e1689970006746.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\/22013629\/QhrtryXS-e1689970006746.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/22013629\/QhrtryXS-e1689970006746-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/22013629\/QhrtryXS-e1689970006746-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/22013629\/QhrtryXS-e1689970006746-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 14 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Amidst the indecisive sentiment in the crypto market, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/dogecoin\/\">dogecoin price<\/a> carries a silent recovery under the influence of two rising trendlines.  However, these converging trendlines are part of a bearish continuation pattern called an inverted flag project, the popular memecoin would face a longer correction.  In the last five, the coin price has reverted several times from the aforementioned trendline, indicating the traders are strictly following this chart setup.<\/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\/tesla-retains-dogecoin-as-payment-option-removes-bitcoin-news\/\">Tesla Retains Dogecoin As Payment Option;  Removes Bitcoin<\/a><\/p>\n<h2><strong>Dogecoin Price Daily Chart<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A long wick rejection candle at the overhead trendline indicates the sellers continue to defend the bearish pattern.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A breakdown below the lower support trendline would tumble the DOGE price by 20%.<\/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 $739.5 Million, indicating a 24% gain.<\/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\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/q\/QhrtryXS.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/q\/QhrtryXS.png\" alt=\"Dogecoin Price\" width=\"1946\" height=\"1104\"\/><\/noscript>Source-<\/span><span style=\"font-weight: 400;\">tradingview<\/span><span style=\"font-weight: 400;\"> <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Earlier today with an intraday gain of 8.76%, the Dogecoin price showed another attempt to breach the overhead trendline of the inverted pennant.  However, the buyers face active selling pressure at this trendline, which plunged the coin price back and is currently trading at $0.0724.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">If the daily candle closes near the current level, the DOGE price may plunge lower as the overhead supply persists strong.  The potential downfall may tumble the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/meme-cryptocurrency\/\">memecoin<\/a> 6-7% down to retest the lower trendline.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Until the two trendlines are intact, the coin price could prolong the current recovery rally higher.  However, the buyers will obtain a better confirmation of a bullish recovery, as the coin price manages to breach the upper trendline.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><strong>Will $DOGE Price Recovery Continue?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The converging trendline of the pennant pattern indicates the Dogecoin price is poised for a breakout opportunity.  While the mentioned pattern is a downtrend continuation pattern, the memecoin is likely to break the lower trendline.  This breakout will release the build-up selling pressure, and lead the coin price back to the $0.053 mark.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The 200-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">Ema<\/a> acts as a major resistance reflecting the overall trend is still bearish.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Relative strength index<\/b><span style=\"font-weight: 400;\">: For the same price high near $0.075, the daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">rsi slope<\/a> shows significant growth indicating the buyer&#8217;s attempts to push the price higher are getting undermined.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA154946\">\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=\"TabD154946\">\n<p>    The content presented may include the personal opinion of the author and is subject to market condition.  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 14 minutes ago Amidst the indecisive sentiment in the crypto market, the dogecoin price carries a silent recovery under the influence of two rising trendlines. However, these converging trendlines are part of a bearish continuation pattern called an inverted flag project, the popular memecoin would face a longer correction. In the last five, the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":125733,"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-125732","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\/125732","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=125732"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125732\/revisions"}],"predecessor-version":[{"id":125734,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125732\/revisions\/125734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/125733"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=125732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=125732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=125732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}