Despite a drop of 2.75% in the past 24 hours, Dogecoin is still holding above the $0.30 mark with a market cap of $46.16 billion. There is a bullish sentiment in the market, supported by a divergence in the 4-hour RSI. The current price action forms a descending triangle pattern, with the $0.30 level being a crucial support. There is potential for a bullish reversal, with a morning star formation and a challenge to the resistance trendline. If there is a bullish breakout, Dogecoin could target the 50% Fibonacci level at $0.3521. However, if the downward trend continues and Bitcoin drops to $90,000, the $0.30 support level could break, leading to a possible test of the $0.265 support level. Overall, the future of Dogecoin remains uncertain and dependent on market conditions.



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