Dogecoin price has suffered a six-week decline as the bears continue to take control.<\/strong><\/li>\n
DOGE seems to be ready for recovery, shown by a buy signal from a technical indicator.<\/strong><\/li>\n
The governing chart pattern suggests that Dogecoin is primed for a 20% rally.\u00a0<\/strong><\/li>\n<\/ul>\n
Dogecoin price has been trapped under a strong declining resistance trend line for over a month. DOGE appears to be reversing the period of underperformance, aiming for a rebound of 20%.\u00a0<\/p>\n
Dogecoin price suggests bulls are taking over<\/h2>\n
Dogecoin price is down by 57% since the June 2 top and has been stuck in a downtrend since. DOGE bulls have been attempting to lift prices higher against the overpowering distribution of the sellers, gearing up for a bounce.<\/p>\n
On the daily chart, Dogecoin price appears to have been consolidating<\/a> within a descending parallel channel since June 25. DOGE appears to be prepared for a breakout above the prevailing chart<\/a> pattern.<\/p>\n
Dogecoin price is nearing the topside trend line of the parallel channel, buoyed by the buy signal from the Momentum Reversal Indicator (MRI) in the previous daily candle.\u00a0<\/p>\n
A prospective target is measured by drawing another parallel channel above the current pattern. The governing trend suggests a 20% move to the upside, tagging the upper boundary of the topside trend line of the parallel channel above toward $0.23, coinciding with the 23.6% Fibonacci extension level.\u00a0<\/p>\n
$\"Dogecoin$ <\/a><\/p>\n
DOGE\/USDT daily chart<\/small><\/p>\n
Speculators should note that the subsequent price action must move up to confirm a potential rally<\/a>.<\/p>\n
Should Dogecoin price be able to secure the aforementioned target as support, DOGE bulls could expect the canine-themed coin to tag the 38.2% Fibonacci extension level at $0.27 corresponding with the 50-day Simple Moving Average (SMA). This level would act as the next obstacle for the token, suggested by the resistance line by the MRI.<\/p>\n
Dogecoin price will find sufficient support<\/a> by the 200-day SMA should DOGE bears take charge. If the bullish scenario is voided, the dog-themed coin will retest the lower boundary of the parallel channel $0.16, the June 22 low.\u00a0<\/p>\n
Investors should note that if selling pressure intensifies, Dogecoin could still be at risk of continuing its declining price trend in consolidation.<\/p>\n
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<\/iframe><\/p>\n<\/div>\n\u00a0<\/p>\n<\/p><\/div>\n \n <a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/dogecoin-price-prediction-doge-primed-for-a-20-bounce-202107180204\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Dogecoin price has suffered a six-week decline as the bears continue to take control. DOGE seems to be ready for recovery, shown by a buy signal from a technical indicator. The governing chart pattern suggests that Dogecoin is primed for a 20% rally.\u00a0 Dogecoin price has been trapped under a strong declining resistance trend line […]<\/p>\n","protected":false},"author":1,"featured_media":771,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[486,120,1805],"class_list":{"0":"post-1843","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dogecoin","8":"tag-bounce","9":"tag-doge","10":"tag-primed"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/1843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=1843"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/1843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/771"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=1843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=1843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=1843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}