Dogecoin (DOGE) is showing signs of a possible breakout! A falling wedge pattern is forming on the charts, and many traders are watching the key level of $0.20.
๐ Whatโs Happening?
Dogecoin is in a downtrend, but itโs staying near the top of the wedge pattern.
๐ป Support: $0.1795
๐ผ Resistance: $0.20
๐ Price Today: Down about 1%
Even with this dip, DOGE is still up for the week.
๐ Key Indicators
RSI is at 44 โ thatโs in the middle, not too hot or cold
MACD shows a possible rise โ but warns of a small drop coming too
Price Action shows DOGE may break out and hit $0.20 soon
If it falls, the next support is at $0.1641
โ ๏ธ Derivatives Show Caution
๐ช Open Interest fell to $1.90B (down 1.44%)
๐ฅ Liquidations: $3M in 24 hours โ mostly long positions
๐ธ Funding Rate is falling โ now at 0.0054%
โ๏ธ Long vs. Short Ratio: 1.0032 (nearly even)
This means bullish bets are slowing down.
๐ Whatโs Next for DOGE?
A breakout above $0.20 could lead to $0.22
A drop below $0.1795 might push DOGE down to $0.1641
Traders are watching closely โ itโs a big moment for Dogecoin!
๐ Disclaimer: This is not financial advice. Always do your own research before investing.