On October 2, 2024, Dogecoin (DOGE) experienced a price dip of about 2%, continuing a decline of roughly 9% over the past week. This bearish trend followed a failed breakout attempt from a six-month falling wedge pattern, which is often seen as a potential reversal signal. Unfortunately, Dogecoin faced a significant rejection at its 200-week simple moving average, leading to the formation of a bearish engulfing candle—a pattern that indicates further downward pressure may be coming.
If this pattern holds, analysts expect Dogecoin to continue struggling, with some predicting it could revisit lower levels. As of now, Dogecoin’s price hovers around $0.105, but traders are cautious, watching for a deeper decline unless a strong reversal occur.
In the broader outlook for October, Dogecoin could trade between $0.093 and $0.110, depending on market conditions and investor sentiment
Investors should stay vigilant, especially given the volatility in the altcoin market, which has been affected by larger global economic pressures.
#doge⚡ #DogecoinCommunity #DogeForever #DogeStrong #DOGE原型柴犬KABOSU去世
