Dogecoin Technical Setup Suggests Major Breakout

Dogecoin is testing a significant resistance region, and the technical setup suggests a price breakthrough.

Crypto Yapper of X believes Dogecoin has developed a falling wedge pattern.


Crypto Yapper predicts a 2x Dogecoin price rebound to $0.20.

Many bulls want a repeat of annual highs in the $0.22s, a 120% rise from $0.1025.

over the collapsing wedge formation would also mean over Dogecoin's 50DMA.


That would indicate a near-term momentum change and bull domination.

The preceding hypothetical situation is a huge if.

Market reactions to Wednesday's Fed policy statement will matter.

The Fed may drop rates for the first time since 2020. Markets are unsure how much that initial rate decrease will be.


A greater 50bps rate decrease and Fed Chair Jerome Powell calming market fears about a US recession might increase risk.

Dogecoin's price might rise from its present trend.

Can Dogecoin Reach $1.0? This Alternative May Work Better
Dogecoin bulls hope a rebound to $0.20 will launch a longer-term climb to $1.0.

The Dogecoin community has long awaited $1.0.

Dogecoin, the top meme currency with its own decentralized blockchain and Elon Musk's support, has a good chance of reaching this goal.

The foreseeable future for Dogecoin is unknown.

If it fails to break above major resistance levels, August's $0.08 lows may reappear.


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