Warning Sounds for Dogecoin: Bearish Indication Suggests Potential 40% Plunge

Quick Summary:

In the context of Olszewicz’s analysis, a ‘bearish Kumo breakout’ implies that the price has broken through the cloud downwards.

The cloud turning green represents a bullish future potential, but the price below both the cloud and the Tenkan-Sen/Kijun-Sen crossover indicates bearish current circumstances.

The analysis hinges on the Ichimoku Cloud, a comprehensive indicator that provides information on support/resistance levels, momentum, and trend direction. Olszewicz’s analysis points to two specific technical phenomena on the 1-day (1D) chart of DOGE against the US dollar (DOGE/USD).

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: United Kingdom

Topics: Dogecoin Doge Dogecoin news Dogecoin Price Prediction DOGE price analysis Dogecoin price Dogeusd

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-29 @ 07:50:37 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 527 words

Reading Time: 3 minutes read

Sentences: 42 lines

Sentence Length: 13 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 20819477

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