{"id":639992,"date":"2024-09-05T19:30:21","date_gmt":"2024-09-05T19:30:21","guid":{"rendered":"https:\/\/uniquehot.com\/?p=639992"},"modified":"2024-09-05T13:10:29","modified_gmt":"2024-09-05T13:10:29","slug":"dogecoin-falls-below-trendline-resistance","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/doge\/dogecoin-falls-below-trendline-resistance\/","title":{"rendered":"Dogecoin Falls Below Trendline Resistance, Eyes On $0.09149 Breach"},"content":{"rendered":"

Dogecoin<\/span><\/a> (DOGE) finds itself in a challenging position as bearish forces continue to dominate the market. Currently trading below a key descending trendline, DOGE faces mounting pressure that could push the price toward the critical $0.09149 support level. With the bearish trendline acting as a formidable resistance, any failure to hold this support could signal further downside movement.<\/span><\/p>\n

This article aims to provide a comprehensive analysis of Dogecoin’s current negative outlook, highlighting its position under the trendline resistance and the potential implications of a breach below the $0.09149 support level. By examining key technical indicators and market <\/span>sentiment<\/span><\/a>, the article seeks to offer insights into whether DOGE will continue its downward trajectory or find a reversal.<\/span><\/p>\n

With a market capitalization exceeding $14 billion and a trading volume surpassing $471 million, Dogecoin was trading at approximately $0.9683, reflecting a 1% increase at the time of writing. In the past 24 hours, its <\/span>market<\/span><\/a> cap has risen by 1.01%, while trading volume has declined by 3.71%.<\/span><\/p>\n

Price Action Analysis: Assessing The Downward Pressure On Dogecoin<\/strong><\/h2>\n

On the 4-hour chart, Dogecoin, trading below the 100-day Simple Moving Average (SMA), is exhibiting consistent bearish momentum. The <\/span>cryptocurrency<\/span><\/a> is currently consolidating just above the $0.09149 mark.\u00a0<\/span><\/p>\n

Related Reading: Major Dogecoin Indicator Flashes Bullish, Is It Time To Buy?<\/a><\/div>\n

This consolidation near a critical support level suggests that despite brief attempts to recover, selling pressure remains dominant. If DOGE fails to maintain its position above $0.09149, it could trigger an extended decline, potentially pushing the price lower as bears continue to exert control.<\/span><\/p>\n

\"Dogecoin\"
Dogecoin consolidating above $0.09149 | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Additionally, on the 4-hour chart, the Relative Strength Index (RSI) is positioned at 45%, failing to rise above the 50% mark. This failure to gain traction above the midpoint reflects persistent pessimistic momentum, suggesting that downward pressure may continue, as the RSI\u2019s position below 50% reinforces the likelihood of further bearish activity in the market.<\/span><\/p>\n

On the daily chart, Dogecoin is still demonstrating notable bearish movement below the 100-day SMA and the trendline. The cryptocurrency is currently approaching the support level at $0.09149, indicating ongoing downward pressure and the <\/span>potential<\/span><\/a> for more declines if this support fails to hold.<\/span><\/p>\n

\"Dogecoin\"
DOGE drops below the 100-day SMA, with the $0.09149 support on sight | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Finally, the RSI signal line on the 1-day chart has fallen to 41%, slipping below the 50% threshold, reflecting a shift in <\/span>momentum<\/span><\/a> that could lead to additional downward movement in DOGE’s price.<\/span><\/p>\n

Potential Scenarios: What Could Happen If DOGE Breaks $0.09149?<\/strong><\/h2>\n

If Dogecoin breaches the $0.09149 support level, several scenarios could unfold. A successful break below this key support might intensify the downbeat <\/span>trend<\/span><\/a>, potentially driving DOGE toward the $0.07456 support range. Should this level be breached, the price could further decrease to test the $0.0559 support mark, and possibly explore even lower support zones.<\/span><\/p>\n

Related Reading: Dogecoin Price (DOGE) Struggles: Can It Overcome the Slump?<\/a><\/div>\n

Conversely, if Dogecoin holds above $0.09149 and reverses its decline, it could indicate a bullish turnaround, which might set the stage for a rally toward the trendline <\/span>resistance<\/span><\/a>. A successful break above this trendline could trigger a significant uptrend, possibly pushing DOGE toward $0.1293 and beyond.<\/span><\/p>\n

\"Dogecoin\"
DOGE trading at $0.097 on the 1D chart | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE) finds itself in a challenging position as bearish forces continue to dominate the market. Currently trading below a key descending trendline, DOGE faces mounting pressure that could push the price toward the critical $0.09149 support level. With the bearish trendline acting as a formidable resistance, any failure to hold this support could signal further downside movement. This article aims to provide a comprehensive analysis of Dogecoin’s current negative outlook, highlighting its position under the trendline resistance and the potential implications of a breach below the $0.09149 support level. By examining key technical indicators and market sentiment, the article seeks to offer insights into whether DOGE will continue its downward trajectory or find a reversal. With a market capitalization exceeding $14 billion and a trading volume surpassing $471 million, Dogecoin was trading at approximately $0.9683, reflecting a 1% increase at the time of writing. In the past 24 hours, its market cap has risen by 1.01%, while trading volume has declined by 3.71%. Price Action Analysis: Assessing The Downward Pressure On Dogecoin On the 4-hour chart, Dogecoin, trading below the 100-day Simple Moving Average (SMA), is exhibiting consistent bearish momentum. The cryptocurrency is currently consolidating just above the $0.09149 mark.\u00a0 Related Reading: Major Dogecoin Indicator Flashes Bullish, Is It Time To Buy? This consolidation near a critical support level suggests that despite brief attempts to recover, selling pressure remains dominant. If DOGE fails to maintain its position above $0.09149, it could trigger an extended decline, potentially pushing the price lower as bears continue to exert control. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) is positioned at 45%, failing to rise above the 50% mark. This failure to gain traction above the midpoint reflects persistent pessimistic momentum, suggesting that downward pressure may continue, as the RSI\u2019s position below 50% reinforces the likelihood of further bearish activity in the market. On the daily chart, Dogecoin is still demonstrating notable bearish movement below the 100-day SMA and the trendline. The cryptocurrency is currently approaching the support level at $0.09149, indicating ongoing downward pressure and the potential for more declines if this support fails to hold. Finally, the RSI signal line on the 1-day chart has fallen to 41%, slipping below the 50% threshold, reflecting a shift in momentum that could lead to additional downward movement in DOGE’s price. Potential Scenarios: What Could Happen If DOGE Breaks $0.09149? If Dogecoin breaches the $0.09149 support level, several scenarios could unfold. A successful break below this key support might intensify the downbeat trend, potentially driving DOGE toward the $0.07456 support range. Should this level be breached, the price could further decrease to test the $0.0559 support mark, and possibly explore even lower support zones. Related Reading: Dogecoin Price (DOGE) Struggles: Can It Overcome the Slump? Conversely, if Dogecoin holds above $0.09149 and reverses its decline, it could indicate a bullish turnaround, which might set the stage for a rally toward the trendline resistance. A successful break above this trendline could trigger a significant uptrend, possibly pushing DOGE toward $0.1293 and beyond. Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":639993,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89099],"tags":[1785,7,93006,79599,16393,14763,91599,85676],"class_list":["post-639992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-doge","tag-doge","tag-dogecoin","tag-dogecusdt","tag-dogeusd","tag-relative-strength-index","tag-rsi","tag-simple-moving-average","tag-sma"],"acf":[],"yoast_head":"\nDogecoin Falls Below Trendline Resistance, Eyes On $0.09149 Breach<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) finds itself in a challenging position as bearish forces continue to dominate the general cryptocurrency market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/uniquehot.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Falls Below Trendline Resistance, Eyes On $0.09149 Breach","url":"http:\/\/uniquehot.com\/analysis\/doge\/dogecoin-falls-below-trendline-resistance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/analysis\/doge\/dogecoin-falls-below-trendline-resistance\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Dogecoin-from-Unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Dogecoin-from-Unsplash.jpg?fit=3000%2C1996"},"articleSection":"DOGE","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","dogecoin","dogecusdt","dogeusd","relative strength index","rsi","simple moving average","sma"],"dateCreated":"2024-09-05T19:30:21Z","datePublished":"2024-09-05T19:30:21Z","dateModified":"2024-09-05T19:30:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Falls Below Trendline Resistance, Eyes On $0.09149 Breach\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/doge\\\/dogecoin-falls-below-trendline-resistance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/doge\\\/dogecoin-falls-below-trendline-resistance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Dogecoin-from-Unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Dogecoin-from-Unsplash.jpg?fit=3000%2C1996\"},\"articleSection\":\"DOGE\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"dogecoin\",\"dogecusdt\",\"dogeusd\",\"relative strength index\",\"rsi\",\"simple moving average\",\"sma\"],\"dateCreated\":\"2024-09-05T19:30:21Z\",\"datePublished\":\"2024-09-05T19:30:21Z\",\"dateModified\":\"2024-09-05T19:30:21Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Dogecoin-from-Unsplash.jpg?fit=3000%2C1996","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/639992"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=639992"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/639992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/639993"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=639992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=639992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=639992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}