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Dogecoin (DOGE) has declined by 3.5% in the past 24 hours and is currently trading at $0.1885 as the broader cryptocurrency market cools off amid rising tensions between the United States and China.
Other meme coins have also experienced sharp declines over the same period. Pepe (PEPE) and Bonk (BONK) have dropped more than 6%, while more exotic tokens such as Fartcoin (FARTCOIN) have seen steeper retreats of 15.4%.
A crypto trader known for his analysis on the YouTube channel “VisionPulsed” recently published a video warning that Dogecoin has a limited window to move higher; otherwise, it risks a significant drop.
The trader focused on two technical indicators: the Bollinger Bands Width Percentile and the Hash Ribbon. The behavior of these indicators generally supports a bullish Dogecoin price forecast.
However, the trader emphasized that the price has not performed as expected after these two indicators sent a buy signal.
If Dogecoin (DOGE) fails to rally in the coming weeks, the host of VisionPulsed warned that this could signal a six-month losing streak for the top meme coin.
Dogecoin Price Prediction: DOGE Retests Key Support After Failing to Climb Above $0.255
A closer look at the daily chart confirms VisionPulsed’s concerns, as Dogecoin (DOGE) has tagged a key area of support that risks a change of character.
“Change of character” refers to a trend reversal. The price has been in an uptrend since early April, making higher highs along the way. However, the last leg up failed to climb above the $0.2550 level and went on to retest the previous high to find liquidity to sustain the rally.
If the price drops below this level, it would indicate that bears are in control of the price action. This favors a bearish Dogecoin price prediction and could result in a drop to the $0.1350 level in the near term.
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The Relative Strength Index (RSI) has also been trending downward recently, currently sitting at 38—below the 50 level and on a downtrend.
A retest of the $0.1850 area from below would confirm this bearish outlook if the price action fails to recapture that level after a bearish breakout.
Whether the market moves up or down from here, storing assets safely should be a key priority. A new crypto presale called Best Wallet (BEST) is positioning itself as a leading Web 3 storage solution due to its innovative features and low-fee swaps.
Best Wallet (BEST) Raises More Than $13M to Launch its Crypto Wallet
Best Wallet (BEST) is a mobile crypto wallet that offers top-notch tools for investors and traders.
Its presale event kicked off last year, and the project has recently surpassed the $13 million mark as investors recognize the potential for its wallet to take market share from sector leaders.
The wallet supports assets from more than 60 blockchains, offers low fees for swapping, and includes new features such as “Upcoming Tokens,” an advanced screener for the best crypto presales.
Analysts believe that $BEST will skyrocket once the solution is widely adopted by users.
To buy $BEST at its discounted presale price of $0.025135, visit the Best Wallet website and connect your wallet. If you do not have a wallet, you can download the Best Wallet app.
You can either swap USDT or ETH or use a bank card to make your investment.
The post Is Dogecoin Running Out of Time? DOGE Price Prediction Warns of 6 Red Months appeared first on Cryptonews.
