DOGE, the largest meme cryptocurrency, recorded a +6% during Friday’s trading session to trade at $0.179. The selling pressure can be attributed to Bitcoin’s breakdown below $85,000 as United States President Donald Trump plans to announce new pharmaceutical tariffs. As the broader market hints at a continuation of prevailing correction, the DOGE faces a +30% fall as the daily EMAs are near a bearish crossover.
Key Highlights:
- The coin price breakdown below the 20-day Exponential Moving Average signals a +35% fall ahead.
- Since November 2024, the Dogecoin price has been resonating within two downsloping trendlines revealing the formation of falling channel patterns.
- A potential bearish crossover between the 100-and-200 could accelerate the current correction in DOGE.
Dogecoin Price Set for 30% Fall as EMAs Approach Bearish Crossover
Amid the recent market upswing, the Dogecoin price bounced from $0.142 to $0.2 high — a 44% increase — in the last two weeks. However, the recovery backed by low training volume indicates weak buyers’ conviction and risk on price sustainability.
Thus, the intraday sell-off in Bitcoin triggered a significant dip in DOGE Price, projecting a breakdown below the 20-day EMA slope. Since late January 2025, the daily chart shows several failed attempts to reclaim this EMA slope as each resulted in an accelerated correction trend.
In addition, the daily chart shows that 100-and-200-day EMA slopes are on the verge of bearish crossover for the first time in 2025. This key technical signal indicates a shift in the market sentiment, suggesting a potential long-term downtrend for Chainlink (LINK).
If history repeats, the DOGE price is poised to fall over 35% and hit the lower boundary of support trendline at $0.12. The chart setup has been carrying the current correction trend in this memecoin and the potential support test should provide it with a suitable pivot level.
While the recovery momentum is far from the Dogecoin price, the buyers could sell support at $0.14. followed by $0.11.
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