{"id":629981,"date":"2024-07-16T15:00:04","date_gmt":"2024-07-16T15:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=629981"},"modified":"2024-07-16T11:32:42","modified_gmt":"2024-07-16T11:32:42","slug":"dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293\/","title":{"rendered":"Dogecoin Set For Heightened Downtrend After A Rejection At $0.1293"},"content":{"rendered":"

Popular meme coin,<\/span> Dogecoin<\/span><\/a>, recently faced a rejection at a significant resistance level of $0.1293. This setback has led the crypto asset to start a fresh downward move towards its previous low of $0.0914. Since DOGE failed to break past the $0.1293 barrier, this has led to speculations among market participants about the next move of the digital asset.<\/span><\/p>\n

In this article, we will examine the post-rejection price actions of DOGE with the help of technical indicators to determine what this rejection could mean for the crypto asset in the near future.<\/span><\/p>\n

DOGE’s price is currently trading at around $0.121 and is up by 1.85% with a market capitalization of over $17 billion and a trading volume of over $1 billion as of the time of writing. In the last 24 hours, its market cap and trading volume have increased by 1.83% and 73.09% respectively.<\/span><\/p>\n

Recent Market Performance: Analyzing DOGE\u2019s Price Action<\/strong><\/h2>\n

Currently, the price of Dogecoin on the 4-hour chart is trading below the bearish trendline and has dropped a bearish momentum after the rejection at $0.129 above the 100-day Simple Moving Average (SMA). Based on these current price actions, the digital asset may be poised to maintain its bearish<\/span> sentiment<\/span><\/a> and could potentially extend its bearish move toward the $0.1144 support level.<\/span><\/p>\n

\"Dogecoin\"
Source: DOGEUSDT on Tradingview.com<\/figcaption><\/figure>\n

The formation of the 4-hour Composite Trend Oscillator also suggests a potential bearish continuation for the crypto asset as the signal line has crossed below the SMA of the indicator in the overbought zone attempting to move out of this zone.<\/span><\/p>\n

On the 1-day chart, the price of DOGE is dropping rapidly after failing to break above the $0.129 and the 1-day bearish trendline. It can be observed that the crypto asset is still trading below the 100-day SMA and is currently attempting a bearish move toward the $0.114 support level with a strong bearish momentum.<\/span><\/p>\n

\"Dogecoin\"
Source: DOGEUSDT on Tradingview.com<\/figcaption><\/figure>\n

Finally, it can observed that the signal line and the SMA are attempting to move out of the oversold zone. However, this may just be on a short-term note as prices might begin to drop again thereby signaling more bearishness for DOGE.<\/span><\/p>\n

Potential Support Levels: Where Could Dogecoin Find Stability?<\/strong><\/h2>\n

As of right now, Dogecoin is attempting a bearish move toward the $0.1144 support mark. If the crypto asset breaks below this level, it will continue to move downward toward the $0.0914 support level. A break below this level may trigger<\/span> more losses<\/span><\/a> for DOGE\u00a0 to test the $0.0745 level and other lower levels.<\/span><\/p>\n

However, if the price of DOGE reaches the $0.1144 support level and experiences a rejection, it will begin to ascend toward the $0.129 resistance level. The crypto asset may pose a further climb toward the $0.1491 resistance level and other higher levels if there is a breach above the $0.129 resistance level.<\/span><\/p>\n

\"Dogecoin\"
DOGE trading at $0.121 on the 1D chart | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Adobe Stock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Popular meme coin, Dogecoin, recently faced a rejection at a significant resistance level of $0.1293. This setback has led the crypto asset to start a fresh downward move towards its previous low of $0.0914. Since DOGE failed to break past the $0.1293 barrier, this has led to speculations among market participants about the next move of the digital asset. In this article, we will examine the post-rejection price actions of DOGE with the help of technical indicators to determine what this rejection could mean for the crypto asset in the near future. DOGE’s price is currently trading at around $0.121 and is up by 1.85% with a market capitalization of over $17 billion and a trading volume of over $1 billion as of the time of writing. In the last 24 hours, its market cap and trading volume have increased by 1.83% and 73.09% respectively. Recent Market Performance: Analyzing DOGE\u2019s Price Action Currently, the price of Dogecoin on the 4-hour chart is trading below the bearish trendline and has dropped a bearish momentum after the rejection at $0.129 above the 100-day Simple Moving Average (SMA). Based on these current price actions, the digital asset may be poised to maintain its bearish sentiment and could potentially extend its bearish move toward the $0.1144 support level. The formation of the 4-hour Composite Trend Oscillator also suggests a potential bearish continuation for the crypto asset as the signal line has crossed below the SMA of the indicator in the overbought zone attempting to move out of this zone. On the 1-day chart, the price of DOGE is dropping rapidly after failing to break above the $0.129 and the 1-day bearish trendline. It can be observed that the crypto asset is still trading below the 100-day SMA and is currently attempting a bearish move toward the $0.114 support level with a strong bearish momentum. Finally, it can observed that the signal line and the SMA are attempting to move out of the oversold zone. However, this may just be on a short-term note as prices might begin to drop again thereby signaling more bearishness for DOGE. Potential Support Levels: Where Could Dogecoin Find Stability? As of right now, Dogecoin is attempting a bearish move toward the $0.1144 support mark. If the crypto asset breaks below this level, it will continue to move downward toward the $0.0914 support level. A break below this level may trigger more losses for DOGE\u00a0 to test the $0.0745 level and other lower levels. However, if the price of DOGE reaches the $0.1144 support level and experiences a rejection, it will begin to ascend toward the $0.129 resistance level. The crypto asset may pose a further climb toward the $0.1491 resistance level and other higher levels if there is a breach above the $0.129 resistance level. Featured image from Adobe Stock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":629984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[92579,1785,7,79599,79600,91599,85676],"class_list":["post-629981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-composite-trend-oscillator","tag-doge","tag-dogecoin","tag-dogeusd","tag-dogeusdt","tag-simple-moving-average","tag-sma"],"acf":[],"yoast_head":"\nDogecoin Set For Heightened Downtrend After A Rejection At $0.1293<\/title>\n<meta name=\"description\" content=\"Popular dog-themed meme coin, Dogecoin, recently faced a rejection at a significant resistance level of $0.1293.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Set For Heightened Downtrend After A Rejection At $0.1293","url":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Dogecoin-from-Adobe-Stock.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Dogecoin-from-Adobe-Stock.jpg?fit=539%2C360"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["composite trend oscillator","doge","dogecoin","dogeusd","dogeusdt","simple moving average","sma"],"dateCreated":"2024-07-16T15:00:04Z","datePublished":"2024-07-16T15:00:04Z","dateModified":"2024-07-16T15:00:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Set For Heightened Downtrend After A Rejection At $0.1293\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Dogecoin-from-Adobe-Stock.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Dogecoin-from-Adobe-Stock.jpg?fit=539%2C360\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"composite trend oscillator\",\"doge\",\"dogecoin\",\"dogeusd\",\"dogeusdt\",\"simple moving average\",\"sma\"],\"dateCreated\":\"2024-07-16T15:00:04Z\",\"datePublished\":\"2024-07-16T15:00:04Z\",\"dateModified\":\"2024-07-16T15:00:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Dogecoin-from-Adobe-Stock.jpg?fit=539%2C360","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/629981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=629981"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/629981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/629984"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=629981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=629981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=629981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}