empty
29.11.2023 07:24 PM
Dogecoin: bullish movement stopped

The price of Dogecoin climbed as much as 0.0831 where it has found resistance. Now, it has slipped lower and is trading at 0.0799 at the time of writing. Bitcoin turned to the downside after failing to make a new higher high, so the altcoins dropped as well.

DOGE/USD is up by 0.03% in the last 24 hours and by 7.51% in the last 7 days. Bitcoin's deeper drop should drag the altcoin down as well.

DOGE/USD 0.0796 Key Support!

This image is no longer relevant

As you can see on the H1 chart, the price rebounded and climbed higher within a minor channel (flag pattern). You knew from my previous analysis that this could be only a temporary growth and that the channel may represent a bearish formation.

It has registered a new false breakout above the broken uptrend line and through 0.0817 upside obstacle signaling that the swing higher could be over.

Dogecoin Forecast!

Dropping below the 0.0796 immediate support may announce a potential drop below the minor uptrend line. Activating the flag formation could open the door for a swing down. This could bring us new selling opportunities.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Recommendations for the Cryptocurrency Market on August 1

Bitcoin and Ethereum saw a significant decline, ending the month with profit-taking. Despite the correction, July was fairly positive—especially for Ethereum, which gained over 49% in price. Bitcoin rose

Miroslaw Bawulski 09:34 2025-08-01 UTC+2

Bitcoin plunges to around $114,300, while Ethereum tests $3,615

The beginning of the new month has been relatively carefree, considering that just earlier this week, Bitcoin was trading near $120,000. Now, it's crucial to see whether large players will

Jakub Novak 09:25 2025-08-01 UTC+2

Will Cardano continue its decline and reach its nearest support level? Friday, August 01, 2025.

Cardano – Friday, August 01, 2025. With the EMA (5) which is below the EMA(200) and the RSI (14) indicator at Extreme Bearish levels, Cardano has the potential to experience

Arief Makmur 08:02 2025-08-01 UTC+2

Could Polkadot continue the path to its support level? Friday, August 01, 2025.

Polkadot – Friday, August 01, 2025. Sellers are quite dominant in the Polkadot cryptocurrency, as confirmed by the Death Cross EMA position and the RSI(14) indicator in Extreme Bearish conditions

Arief Makmur 08:02 2025-08-01 UTC+2

First US crypto policy report opens new era

Bitcoin briefly dipped following the Fed's recent decision but quickly rebounded, maintaining its range-bound trade between $116,000 and $120,000. This sideways movement may soon lay the groundwork for a breakout

Jakub Novak 11:33 2025-07-31 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 31

After a solid pullback to around $ 116,000 yesterday, Bitcoin is once again trading at $118,200 today, signaling continued demand. Ethereum has also recovered all its losses

Miroslaw Bawulski 09:18 2025-07-31 UTC+2

Federal Reserve's meeting today may boost crypto market

The Federal Reserve's policy meeting today could provide a boost to the cryptocurrency market. Even the slightest hint from the committee about a potential interest rate cut in September would

Jakub Novak 13:19 2025-07-30 UTC+2

Trading tips for crypto market on July 30 (North American session)

Bitcoin remains firmly above $118,000, clearly targeting a potential breakout above $120,000. Ethereum has seen a slight correction but continues to trade within a channel, signaling further upside potential. Today's

Miroslaw Bawulski 13:12 2025-07-30 UTC+2

Time to consider buying XRP?

Bitcoin and Ethereum continue to trade around the same levels, with no significant shifts in market dynamics. If current prices make these assets seem too expensive, perhaps it is worth

Jakub Novak 11:18 2025-07-30 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 30

Bitcoin continues to trade within a narrow sideways channel, and a breakout will determine its next direction. Ethereum is showing the same pattern. Meanwhile, while you're considering whether it's worth

Miroslaw Bawulski 09:05 2025-07-30 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.