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Crypto analyst Josh Olszewicz is once again warning of a looming Dogecoin price crash. 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). Via X, he remarked “1D DOGE: bearish TK cross + bearish Kumo breakout. Bearish Signals For Dogecoin The bearish TK cross refers to the bearish crossover between the Tenkan-Sen (conversion line) and the Kijun-Sen (baseline) within the Ichimoku Cloud system. The Tenkan-Sen, which is a faster-moving line typically calculated as the midpoint of the highest high and lowest low over the last nine periods, crossing below the Kijun-Sen, a slower line computed as the midpoint of the highest high and the lowest low over the past 26 periods, is considered a bearish signal. It suggests that short-term prices are falling below the base level of prices over the last month, indicating potential further downward movement. The Bearish Kumo breakout: The ‘Kumo’, which translates to ‘cloud’, is part of the Ichimoku Cloud indicator and is formed between two other lines: the Senkou Span A and the Senkou Span B. It represents a key area on the chart that can act as support or resistance. In the context of Olszewicz’s analysis, a ‘bearish Kumo breakout’ implies that the price has broken through the cloud downwards. This breakout is seen as a confirmation of a bearish trend. The fact that the price is below the Kumo suggests that the overall market sentiment for DOGE is negative, with the Kumo now likely acting as resistance to any upward price movement. The chart by Olszewicz shows DOGE trading at $0.15 with the cloud plotted behind the price action, appearing green above and red below the price lines. 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. A 40% Price Crash Looming? This gives weight to Olszewicz previous DOGE price analysis. As NewsBTC reported, the crypto analyst warned of a potential Head and Shoulders (H&S) formation on the DOGE/USD 12-hour chart which could be validated soon. The formation is characterized by two shoulders flanking a distinctive head, with the neckline at approximately $0.14 being pivotal. Should Dogecoin’s price break below this critical support, the prophecy of the H&S pattern would likely manifest, potentially triggering a sell-off towards the $0.10 to $0.09 region. This target area aligns with the 1.618 and 2.0 Fibonacci extension levels, suggesting a price crash of around 40% from the neckline. While the pattern has not yet been confirmed, with the price still above the crucial $0.14 support level, its presence serves as a cautionary signal to the market. The technical confluence of the bearish TK cross and the bearish Kumo breakout in Olszewicz’s recent analysis only reinforces the possible bearish scenario that lies ahead for Dogecoin. Market participants are recommended to keep a close watch on the $0.14 level, as a decisive break below could validate the bearish outlook and set the stage for the anticipated decline. At press time, DOGE traded at $0.1413. Featured image created with DALL·E, chart from TradingView.com

Alarm Bells Ring For Dogecoin: Bearish Signal Points To 40% Crash

The cryptocurrency sector is in constant flux, revealing new opportunities for both veteran investors and newcomers. While traditional options like Ethereum and Dogecoin remain popular for their foundational values, emerging technologies like BlockDAG with a presale that has raised $21 million so far, are capturing attention with their groundbreaking features

The Crypto Landscape – Ethereum’s Fluctuations, Dogecoin’s Surge, And BlockDAG’s Innovative Speed With A $21M Presale

The post Meme Coins Price Analysis: Upcycles For DOGE, PEPE, SHIB? appeared first on Coinpedia Fintech News With a broader market slowdown, the meme coins are struggling to pull off any major recovery moves. As any signs of recovery in the market face a quick rise in supply due to profit booking, a healthy correction might now be carcinogenically bearish. Let’s look at the price analysis of top meme coins for a …

Meme Coins Price Analysis: Upcycles For DOGE, PEPE, SHIB?

On-chain metrics, as well as technical data, hint at a drop in the coin's price.

Dogecoin: Why $0.12 is key as bears surround DOGE

AI Shiba Coin (AISHIBC) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE). AI Shiba Coin (AISHIBC), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE). Early investors in SHIB and DOGE made astronomical returns, and AI Shiba Coin presents a similar opportunity. AI Shiba Coin has market cap below $10,000 at the moment, meaning that when it just reaches a modest market cap of $200,000-$500,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours. The exciting memecoin is

AI Shiba Coin (AISHIBC) to Explode 8,300% in 2 Days, Can it Challenge Shiba Inu and Dogecoin?

Dogecoin traders expect its price to rise soon, but Cardano traders have taken the opposite position.

Dogecoin and Cardano [ADA] are bearish, but only one will see a bull run

Homer on Solana (HOMSOL) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE). Homer on Solana (HOMSOL), a new Solana memecoin that was launched today, is poised to explode over 8,000% in price in the coming days. This is because HOMSOL has announced its first centralized exchange listing, which will be on MEXC. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Homer on Solana can only be purchased via Solana decentralized exchanges, like

Homer on Solana (HOMSOL) Will Skyrocket 8,000% Before MEXC Listing, As Shiba Inu and Dogecoin Struggle

Homer on Solana (HOMSOL) to Rally 8,000% Before MEXC Listing, As Shiba Inu and Dogecoin Struggle

The post Picking the Purr-fect Meme Coin for 2024: Dogecoin (DOGE), Shiba Inu (SHIB) or Furrever Token (FURR)? appeared first on Coinpedia Fintech News Amidst a recent decline in the meme coin market, both Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced setbacks, slipping 1.5% and 3.5%, respectively. This downturn has prompted investors to reassess their positions, seeking alternative opportunities in the crypto landscape. In this shifting landscape, Furrever Token (FURR) emerges as a new favorite among investors, offering …

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