Dogecoin’s Chart Screams Caution As Bulls Get Rejected Again
Dogecoin (CRYPTO: DOGE) bulls just hit a wall and the charts are flashing a clear warning for anyone chasing this bounce.
After briefly popping above $0.23, DOGE got slapped down at the same descending trendline that’s rejected every breakout since May 22.
Momentum is fading, and price is getting squeezed into a pressure zone that could erupt soon.
Repeated Rejections Fuel Breakdown Risk
DOGE price forecast (Source: TradingView)
Zooming in on the 4-hour and 30-minute charts, DOGE has been stuck in a descending triangle, making lower highs with each failed breakout.
The most recent rejection came precisely at the 0.236 Fibonacci retracement level ($0.2289), an area that has become a pivot point between hope and panic.
Bollinger Bands are tightening around the $0.225 zone on the 4-hour chart, which typically precedes a volatility spike.
A breakdown below $0.221 could trigger a flush …
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