{"id":175212,"date":"2023-10-16T19:52:10","date_gmt":"2023-10-16T14:22:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/supply-pressure-threatens-for-18-drop-crypto-news\/"},"modified":"2023-10-16T19:52:13","modified_gmt":"2023-10-16T14:22:13","slug":"supply-pressure-threatens-for-18-drop-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/supply-pressure-threatens-for-18-drop-crypto-news\/","title":{"rendered":"Supply Pressure Threatens for 18% Drop &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-161617\">\n<p>\nThe DOGE price is poised for a decisive breakout from the narrow range in the daily time frame chart; time to accumulate?\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/uwJprAM7-e1697465191753.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Doge Price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 11 seconds ago  <\/p>\n<div class=\"SocialMarketS d-flex position-static\">\n<div class=\"Socilsm\">\n<div class=\"LinksSo p-0\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/dogecoin-price-prediction-as-supply-threatens-18-drop\/&#038;text=Dogecoin Price Prediction As Overhead Supply Threatens for 18% Drop\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/dogecoin-price-prediction-as-supply-threatens-18-drop\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/dogecoin-price-prediction-as-supply-threatens-18-drop\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<p>                    <!-- \n\n<div class=\"m-on\">\n<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bydfi.com\/invite?ru=6FPHxM&f=coingape\" class=\"add-container border-chnage ml-2\"> <img loading=\"lazy\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20150%2040'%3E%3C\/svg%3E\" alt=\"Bonus\" decoding=\"async\" class=\"image-ads\" width=\"150\" height=\"40\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/25122123\/bonus.png\"><noscript><img src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/25122123\/bonus.png\" alt=\"Bonus\" decoding=\"async\" loading=\"lazy\" class=\"image-ads\" width=\"150\" height=\"40\"><\/noscript>\n    <\/a>\n<\/div>\n\n -->\n                <\/div>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400\">As <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin price<\/a> rebounds from its $26,500 level, a ripple effect has been observed across the broader cryptocurrency market. As a result, the DOGE Price experienced a 5% uptick over the past five days, escalating from a low of $0.057 to its current trading price of $0.06. This uptrend attempts to challenge a stubborn resistance line that has led to the ongoing correction trend price action for nearly a year.<\/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\/shiba-inu-and-dogecoin-get-listed-on-bittrade-price-to-rally\/?utm_source=24hrsupdateall\">Shiba Inu And Dogecoin Get Listed On BitTrade, Price To Rally?<\/a><\/p>\n<h2><b>Should You Buy at $0.055 Support?<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The Dogecoin price may prolong a sideways trend before giving a decisive breakout.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A long-coming support trendline prevents the investors from major correction.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The 24-hour trading volume in Dogecoin is $165 Million, indicating an 87% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"TradingView Chart\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/u\/uwJprAM7.png\"\/><noscript><img decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/u\/uwJprAM7.png\" alt=\"TradingView Chart\"\/><\/noscript>Source-Tradingview\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the short term, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/dogecoin\/\">Dogecoin price<\/a> movement is primarily lateral, oscillating between two converging trendlines that serve as dynamic resistance and support levels. This formation is compressing the trading range, effectively creating a \u201cno-trade zone.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Earlier today, this <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/meme-coin\/\">memecoin<\/a> rose by 2.7% intraday, teasing a breakout above the overhead resistance. However, sellers have maintained their stronghold, pushing the DOGE price back down and forming a long-tail rejection candle.\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">This could signify a retreat back to the lower trendline, perpetuating the sideways action. Nonetheless, as the trading range narrows, a decisive breakout\u2014or breakdown\u2014is becoming increasingly imminent.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Should the asset manage to close above the upper trendline on the daily chart, a swift 14% rally to $0.0685 could be on the horizon.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Is DOGE Price Threatened for Major Correction?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The DOGE price chart reveals a persistent ascending support trendline that has been in play for over two and a half years. This trendline has acted as a safety net during major market downturns, making it a focal point for investor accumulation. A breach below this line could therefore spell a significant downtrend for Dogecoin, marking a crucial juncture for both short-term traders and long-term investors alike. The post-breakdown fall would first hit the $0.05 support registering a potential loss of 18%.<\/span><\/p>\n<ul>\n<li><b>Moving Average Convergence Divergence: <\/b><span style=\"font-weight: 400\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/macd-moving-average-convergence-divergnece\/\">MACD<\/a>(blue) and (signal)orange slope moving sideways near the midline reflect a neutral sentiment among neutral, accentuating a sideways trend in this asset.<\/span><\/li>\n<li><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400\">The coin price trading below the daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMAs<\/a>(20, 50, 100, and 200) indicates the bear trend sentiment in the market.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/dogecoin-price-prediction-as-supply-threatens-18-drop\/&#038;text=Dogecoin Price Prediction As Overhead Supply Threatens for 18% Drop\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/dogecoin-price-prediction-as-supply-threatens-18-drop\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/dogecoin-price-prediction-as-supply-threatens-18-drop\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/dogecoin-price-prediction-as-supply-threatens-18-drop\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA161617\">\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>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/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\/a533fdcf650a1d3d3b6a452bcef2d18a?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\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?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=\"TabD161617\">\n<p>  The presented content 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<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The DOGE price is poised for a decisive breakout from the narrow range in the daily time frame chart; time to accumulate? Published 11 seconds ago As Bitcoin price rebounds from its $26,500 level, a ripple effect has been observed across the broader cryptocurrency market. As a result, the DOGE Price experienced a 5% uptick [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":175213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-175212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175212","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=175212"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175212\/revisions"}],"predecessor-version":[{"id":175214,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175212\/revisions\/175214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/175213"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}