CandleFocus Dogecoin Tests $0.25: Is a Breakout Rally Possible?
2025-02-18
Author: Content Editor
The article discusses the recent drop in the price of Dogecoin by 4.68%, which puts the $0.25 support at risk. The meme coin market capitalization has also dropped by 4.5% to $67.4 billion. With Bitcoin's potential pullback, meme coins like Dogecoin may experience a major dip, possibly crashing prices below $0.20. On the 4-hour chart, Dogecoin's price action shows a bearish trend, with a resistance trendline. However, there is a potential for a bullish reversal as Dogecoin forms a descending triangle pattern and the daily RSI shows an uptick near the oversold boundary. Crypto analyst Ali Martinez also suggests a potential bullish turnaround. If Dogecoin breaks above the overhead trendline, it could result in a high-momentum move and potentially reach the $0.30 psychological mark. Conversely, a breakdown from the triangle could lead to support levels at $0.22 and $0.19.
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