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<p><a href="https://captainaltcoin.com/dogecoin-doge-memecoin-to-resume-parabolic-rally-if-price-closes-above-this-key-resistance/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin (DOGE)</a> is navigating a bearish phase, with price patterns suggesting an imminent decline before a possible rebound. Crypto analyst @CryptoJobs3 has outlined this view in a tweet, highlighting a key pattern and critical support levels for DOGE.&nbsp;</p>
<p>Although currently bearish, the analyst sees a mid-term opportunity for a bullish shift if specific support zones are maintained.</p>
<h2 class="wp-block-heading" id="strong-bearish-head-and-shoulders-pattern-observed-strong"><strong>Bearish Head and Shoulders Pattern Observed</strong></h2>
<p>The 15-minute chart displays a distinct Head and Shoulders pattern, commonly signaling a trend reversal. This configuration suggests DOGE’s recent uptrend could be nearing its end, potentially leading to a price dip.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DOGE</a> – Bearish setup <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Overbuy area daily<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2757.png" alt="❗" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>No retest of the breakout<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2757.png" alt="❗" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Head &amp; Shoulder pattern <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2757.png" alt="❗" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>I'm bullish for the mid term but there is a time to buy &amp; a time to sell.<br><br>Lower supports that will probably be tested: <br>0.15800 – 0.15500 – 0.1500 – 0.14650$ and the H4… <a href="https://t.co/97rHUm8L0e" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/97rHUm8L0e</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9.png" alt="🧙" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto_Jobs <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9-200d-2642-fe0f.png" alt="🧙‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"> TA &amp; FA <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoJobs3) <a href="https://twitter.com/CryptoJobs3/status/1852003048807084041?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 31, 2024</a>
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<p>CryptoJobs3 points out immediate support levels at $0.15800, $0.15500, $0.1500, and $0.14650, areas likely to be tested in the short term. The recent breakdown of the trend line that previously supported <a href="https://www.westislandblog.com/dogecoin-primed-for-breakthrough-estimated-value-to-skyrocket-by-1000/" target="_blank" rel="noopener noreferrer nofollow">DOGE’s upward movement</a> further reinforces a potential bearish direction.</p>
<p>According to the analyst, if DOGE dips toward these lower support levels, it may establish a foundation for future bullish momentum, which could set up a potential rebound.</p>
<h2 class="wp-block-heading" id="strong-4-hour-chart-indicates-possible-wedge-breakout-retest-strong"><strong>4-Hour Chart Indicates Possible Wedge Breakout Retest</strong></h2>
<p>In the broader 4-hour timeframe, a descending wedge breakout—a setup that often implies a trend reversal—is visible. Following the breakout, DOGE has entered a pullback phase, which could lead to a retest of the wedge’s lower boundary.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="461" src="https://captainaltcoin.com/wp-content/uploads/2024/11/t-1024x461.png" alt="" class="wp-image-576432" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/t-1024x461.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-300x135.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-768x346.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-1536x692.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-2048x923.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-333x150.png 333w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-777x350.png 777w, https://captainaltcoin.com/wp-content/uploads/2024/11/t-788x355.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/t.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>DOGE 4-hour price chart, Source: CryptoJobs3</em></strong>&nbsp;
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<p>This retest zone is identified as $0.1500 to $0.1465, where the analyst anticipates support. Holding above this range may offer DOGE a chance to build bullish momentum.</p>
<p>The tweet emphasizes that <a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">DOGE’s price</a> has reached an overbought area on the daily chart, reinforcing the probability of a correction toward lower support levels. The analyst’s forecast aligns with DOGE’s current chart structures, where a drop to these key levels could pave the way for a possible rebound.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/sui-price-could-rise-past-3-heres-why/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>SUI Price Could Rise Past $3: Here’s Why</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-support-levels-to-watch-amid-overbought-conditions-strong"><strong>Support Levels to Watch Amid Overbought Conditions</strong></h2>
<p>With DOGE’s recent overbought conditions, a corrective move is likely, targeting lower support zones. @CryptoJobs3 has pinpointed $0.15800, $0.15500, $0.1500, and $0.14650 as pivotal levels to monitor. Should DOGE hold above the $0.1500 to $0.1465 range, it might attract buying interest, potentially leading to a price recovery.</p>
<p>CryptoJobs3 has expressed a mid-term bullish outlook despite the current bearish setup. If DOGE maintains support at the identified levels, it could catalyze renewed buying pressure, positioning the asset for a mid-term price reversal.</p>
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<p>The post <a href="https://captainaltcoin.com/dogecoin-doge-price-charts-a-bearish-path-analyst-predicts-potential-rebound/" rel="noopener noreferrer nofollow">Dogecoin (DOGE) Price Charts a Bearish Path: Analyst Predicts Potential Rebound</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Dogecoin (DOGE) Price Charts a Bearish Path: Analyst Predicts Potential Rebound

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