Hidden Dogecoin (DOGE) Cross Happening, Bitcoin's (BTC) Path to $70,000, Ethereum (ETH) to Face Bearish Wedge?

Dogecoin is about to undergo a noteworthy technical event that could significantly affect how much it moves in the future. This is almost a death cross, where the 200-day Exponential Moving Average (EMA) crosses below the 100-day EMA.

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August 15, 2024

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Because it represents a change in momentum from bullish to bearish, this technical pattern - which is occurring around the $0.12 level - usually indicates the possibility of a protracted downtrend.

DOGE/USDT Chart by TradingView

A bearish outlook for Dogecoin may be confirmed if the 100 EMA crosses below the 200 EMA and remains there. The price of DOGE would probably decline more as a result of this event, discouraging buyers and drawing sellers. Though not all death crosses result in large losses, historically, they have frequently preceded protracted periods of price declines.

Three crucial Dogecoin price levels need to be regularly watched: the immediate resistance level at which the possible cross might take place is $0.12. DOGE may find it difficult to regain bullish momentum if it is unable to break above this level. In recent weeks, DOGE has found a floor at $0.105. If this level falls below it, it might indicate additional vulnerability and possibly lead to a retest of lower levels.

Bitcoin's path to $70,000

At the moment, Bitcoin is moving in a well-defined channel, and a move toward $70,000 is looking more and more likely. The 50-day and 100-day Exponential Moving Averages (EMAs) are two significant resistance levels that BTC must first overcome in order for this bullish scenario to come to pass.