Dogecoin (DOGE), which has been pricing in a rising wedge for a month, is getting closer and closer to the bottom of the technical structure.
Adding the letter “D” to the position in X a few days ago, Musk had a big impact on the popular memecoin. DOGE, which has been attracting attention on the technical and fundamental analysis side for a month, has started to decline with the slowing of popularity of Elon Musk and X. The popular memecoin, which lost its momentum after hitting $ 0.835, may be ringing the alarm bells with its technical structure. Which levels should DOGE investors follow closely?
Dogecoin (DOGE) chart review
DOGE, which started an upward trend from $ 0.060, managed to reach $ 0.0835 in a short time with the effect of Elon Musk and X. DOGE, which priced in a rising wedge in this process, finally broke this structure and made a voluminous rise. However, the withdrawal that started on the BTC side and the cessation of Musk’s shares naturally weakened the DOGE price. The popular memecoin is currently trading at $0.0762.
Drawing attention with its technical structure since June 22, DOGE came to the fore with danger signals this time. In order to expect the continuation of the rises, the resistance points that must be overcome are $0.0777 – 0.081 – 0.846 and $ 0.090, respectively. The continuation of the decline, especially the downside break of the ascending wedge, could put serious selling pressure on DOGE. Support zones to watch in this scenario are $0.0732 – 0.0700 – 0.666 – $0.0628 and $0.060 respectively.
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