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DOGE Price Breaks Key Support: Is Alt Run No More?

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DOGE Price is seeing some not so pretty action lately. It broke LTF structure, but what are the implications? Are DOGE holders worried and selling or are they hodling with conviction. The Dino memecoin is always a part of bull runs of the past. Will history repeat or leave DOGE behind for the upcoming alt season? If there will even be one…

One large CT (Crypto Twitter) account is still holding and even buying more Dogecoin on this dip. This is a clear example of conviction.  Following what others say blindly is not really wise. Even if they are a big name in whatever sphere the asset is found. One good way to be informed is by doing further technical analysis. Review my previous DOGE article here. And now – let’s have a go at it!

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DOGE Price Underwater: Can It Surface Again Or Will It Drown?

DOGE-1W-scaled.png

(Source – Tradingview, DOGEUSD)

Let us begin today’s analysis with the Weekly timeframe. We have a few more days until the current weekly candle closes. What bulls want is for it to stay within the channel. But, next support can be found at MA200, or roughly at $0.14. If it does go that low, then we have a sideways support for all of 2025. Not impossible. A good sign is that RSI is around it’s mid-range and the Moving averages are in a bullish order – MA50 on top, MA100 in the middle and MA200 on the bottom.

DISCOVER: 10+ Next Crypto to 100X In 2025

DOGE-1D-scaled.png

(Source – Tradingview, DOGEUSD)

On the Daily chart RSI also looks bottomed and MAs in bullish order. Although price is currently below all of them. The channel here is also very clear. The day of the sell off we can see a lot of buying as the wick is twice as long as the body. Though there is a chance buyers are now exhausted and there is no-one left to absorb further selling. Is that the case? We will find out soon enough.

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Signals To Watch For Another Dogecoin Run

DOGE-4H-scaled.png

(Source – Tradingview, DOGEUSD)

Final chart for the analysis is on 4H timeframe. In the previous article we discussed the possibility for a run above $0.30. But there was not enough fuel for that. Instead DOGE Price broke the precious low, essentially breaking the uptrend market structure. Of course, the massive liquidations are to blame for it. Nevertheless technical analysis does not ask questions or cast blame. It rather poses rules and neglects emotion. The rule now is – if we want a run higher, support needs to hold and MAs to be reclaimed. RSI here is at the bottom, suggesting a bounce at some point in the next days.

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DOGE Price Breaks Key Support: Is Alt Run No More?

  • Price is still in ascending channel
  • RSI has room for growth on all timeframes
  • If $0.18 support does not hold, next key level is $0.14
  • Need to reclaim all MAs on 4H for further upside
  • Market Structure broke on 4H timeframe

The post DOGE Price Breaks Key Support: Is Alt Run No More? appeared first on 99Bitcoins.

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