After halving #DOGE Day excitement, will Dogecoin reach $0.2?

Dogecoin price maintains above an ascending trendline amid rising overhead pressure.

Altcoins may soar after Bitcoin halving and $DOGE Day.

A rising wedge formation is hurting Dogecoin, but bullish narratives could help.

Despite market slowdown, Dogecoin (DOGE) price is consolidating along an ascending trendline. As DOGE Day approaches, Bitcoiners and cryptocurrency fans celebrate the fourth Bitcoin halving, which could benefit Dogecoin.

DOGE may rise on Dogecoin Day.

In conjunction with the Bitcoin halving on April 20, the DOGE community is celebrating Dogecoin Day, a social media effort to enhance awareness and value.

The 2013 "Doge" meme picturing a Shiba Inu dog inspired Dogecoin, which has a large community.

Dogecoin price holds above the ascending trendline, which provides downward support, and the 200-day SMA on the 12-hour period. The Relative Strength Index (RSI) crossed over the yellow band of the signal line, signaling a buy. Same crossover on Moving Average Convergence Divergence (MACD) above orange signal line band.

If DOGE bulls follow the buy signal, Dogecoin price could push north to face resistance at $0.1718, the 100-day SMA. If this moving average fails, meme coins' Bitcoin could break through to the 50-day SMA at $0.1830. Dogecoin might reach $0.2000, 33% above current values, in a bullish scenario.

Dogecoin's ascending wedge would expire if the 12-hour timeframe broke and closed above $0.2000.

Dogecoin price could fall below the ascending trendline if the $0.2000 barrier fails to break. If the DOGE price falls below the 200-day SMA at $0.1278, it could test the psychological $0.1000 market bottom.

#Memecoins #SHIB