Dogecoin (DOGE) has fallen 3.5% in the past 24 hours and is currently at $0.1885 as the cryptocurrency price continues to cool amid rising tensions between the United States and China.
Other meme coins also fell sharply in the last 24 hours, including Pepe (PEPE) and Bonk (BONK), with their prices dropping over 6%, while stranger coins like Fartcoin (FARTCOIN) fell even more sharply by 15.4%.
A cryptocurrency trader sharing his analysis through a YouTube channel named "VisionPulsed" recently posted a video in which he warns that Dogecoin has very limited chances of increasing in price, otherwise there is a risk of a sharp fall.
He focuses on two technical indicators - Bollinger Bands Width Percentile and Hash Ribbon. The behavior of these two technical indicators supports the forecast of Dogecoin price increase.
However, the trader emphasized that the price did not move as expected after these two indicators gave a buy signal.
If Dogecoin (DOGE) does not increase in price in the next few weeks, VisionPulsed host emphasizes that this could herald a six-month consecutive fall for this leading meme coin.
Dogecoin price prediction: DOGE is testing the key support level after failing to break through the $0.255 level.
Looking more closely at the daily chart, it can be seen that VisionPulsed's concerns arise as Dogecoin (DOGE) has tagged an important support area that is at risk of changing its nature.
The change in characteristics indicates a reversal of the trend. The price has been on an upward trend since the beginning of April, creating higher levels along the way. Now, the recent rally has failed to surpass the $0.2550 level and continues to retest the previous highs in search of liquidity to maintain the upward momentum.
If the price falls below this level, it means that the bears are in control of the price action. This supports the prediction of a Dogecoin price drop and could lead to a decrease to the level of $0.1350 in the near future.
The relative strength index (RSI) has recently shown a tendency to fall and is currently at 38 – lower than the 50 level and trending down.
Re-testing the 0.1850 dollar level from below will confirm this bearish outlook if the price cannot reclaim that level after the bearish breakout.
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Is Dogecoin running out of time? DOGE price prediction warns of 6 months of red.
Dogecoin (DOGE) has fallen 3.5% in the past 24 hours and is currently at $0.1885 as the cryptocurrency price continues to cool amid rising tensions between the United States and China. Other meme coins also fell sharply in the last 24 hours, including Pepe (PEPE) and Bonk (BONK), with their prices dropping over 6%, while stranger coins like Fartcoin (FARTCOIN) fell even more sharply by 15.4%. A cryptocurrency trader sharing his analysis through a YouTube channel named "VisionPulsed" recently posted a video in which he warns that Dogecoin has very limited chances of increasing in price, otherwise there is a risk of a sharp fall. He focuses on two technical indicators - Bollinger Bands Width Percentile and Hash Ribbon. The behavior of these two technical indicators supports the forecast of Dogecoin price increase. However, the trader emphasized that the price did not move as expected after these two indicators gave a buy signal. If Dogecoin (DOGE) does not increase in price in the next few weeks, VisionPulsed host emphasizes that this could herald a six-month consecutive fall for this leading meme coin. Dogecoin price prediction: DOGE is testing the key support level after failing to break through the $0.255 level. Looking more closely at the daily chart, it can be seen that VisionPulsed's concerns arise as Dogecoin (DOGE) has tagged an important support area that is at risk of changing its nature. The change in characteristics indicates a reversal of the trend. The price has been on an upward trend since the beginning of April, creating higher levels along the way. Now, the recent rally has failed to surpass the $0.2550 level and continues to retest the previous highs in search of liquidity to maintain the upward momentum.
If the price falls below this level, it means that the bears are in control of the price action. This supports the prediction of a Dogecoin price drop and could lead to a decrease to the level of $0.1350 in the near future. The relative strength index (RSI) has recently shown a tendency to fall and is currently at 38 – lower than the 50 level and trending down. Re-testing the 0.1850 dollar level from below will confirm this bearish outlook if the price cannot reclaim that level after the bearish breakout.