The post DOGE Price Analysis: Is DOGE Price Warning A Crash To $0.050? appeared first on Coinpedia Fintech News
The daily chart of DOGE price action shows a falling wedge pattern with an ongoing correction phase. The Dogecoin price action also forms a long consolidation range with a fakeout of the $0.64 resistance zone.
Furthermore, the bears are in control as the price of DOGE has dropped by 60% since November 2022, trapped in a long-term downtrend. The future appears bleak for the dog-themed memecoin as the key EMAs continue to trend downward.
Currently, the DOGE price ongoing brawl between bulls and bears is evident within the consolidation range. Moreover, due to the market-wide correction, the recent red candle warns of a bearish outcome.
In the 4-hour chart, the consolidation range becomes even clearer, with fakeouts of either side evident over the past weeks. However, the recent fallback faces opposition from the buyers present at the bottom support, leading to a reversal spro
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