Wedge Pattern Retest фазасы $0.08 Fallout эскертет

A bearish fallout from a yearly falling wedge pattern suggested the Dogecoin (Duke) price witnessed a significant freefall. However, the lower price rejection at the retest phase puts a possibility on the cards and traps the aggressive sellers.

Негизги учурлар:

• The DOGE price broke under $0.10 after a 28.5% fall last week.
• Dogecoin монетасынын 24 сааттык соода көлөмү 1.56 миллиард долларды түзөт, бул 337% пайданы көрсөтүп турат.

Булак-Tradingview

The Dogecoin (Duke) price fell sharply after the 2021 bull run resulting in the formation of a falling wedge. The downfall within the bearish pattern devalues market value by 88%. 

The selling pressure has grown gradually within the bearish pattern and recently breaks below the support trendline and $0.10 with a bearish engulfing candlestick. However, the buyers temporarily take back the trend control at $0.080 to retest the broken trendline.

The higher price rejection due to selling faced near the broken trendline increases the chances of a post-retest reversal. Therefore, traders can expect a breakout entry once the market value crosses under $0.082 and can target the low of $0.045.

The bearish theory will be invalidated if buyers find a closing above $0.10 and trap the sellers. In this case, the bulls can achieve the target of reaching the resistance trendline close to $0.13.

Техникалык көрсөткүч

This week’s sudden fall in DOGE market value undermines the bullish crossover of the 50 and 100-day EMA and might shortly regain a bearish alignment. However, the discussed bearish contingency possibility can find opposition near the EMAs, and traders can target it as an exit spot.

The possibility of a trend reversal increases with the VI lines displaying the start of another bullish crossover attempt. However, a post-retest reversal will sabotage the bullish attempt and continue the bear cycle further.

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Акыркы 5 жылдан бери журналистика тармагында иштейм. Мен акыркы 3 жылдан бери Blockchain & Cryptocurrency ээрчийм. Мен мода, сулуулук, көңүл ачуу жана каржы сыяктуу ар кандай темаларда жаздым. мага brian (at) coingape.com аркылуу кайрылыңыз

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