The post Crypto Analyst Warns Dogecoin Price Correction Was A False Breakout, Calls 30% Crash appeared on BitcoinEthereumNews.com.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Dogecoin’s recent attempt at recovery has quickly unraveled, and a deceptive price structure is starting to form beneath the surface. A short-lived rally driven by external news (specifically, Donald Trump’s announcement to pause tariffs sparked optimism across the market, but that optimism is fading just as fast. According to a technical analysis by crypto analyst RLinda on TradingView, the meme coin may now be returning to its correction path with another 30% price crash. False Breakout Confirmed As Dogecoin Falls Back Below Resistance RLinda’s analysis zeroes in on a failed breakout between the $0.157 and $0.1622 resistance zone. The rally, provoked by Trump’s tariff-related announcement, saw Bitcoin surge briefly and pull altcoins like Dogecoin. During this period, Bitcoin jumped 10% from $75,200 to $83,300. This was enough to drag Dogecoin higher, with the meme coin pushing to $0.163 after breaking past resistance at $0.16.  However, the move lacked staying power. Now that the initial reaction is fading, Bitcoin has retraced some of its gains and is trading around $81,500. Similarly, price action above the Dogecoin resistance quickly reversed, with the meme coin now consolidating beneath the $0.16 zone, which is a clear sign of a false breakout. This shift in momentum indicates a strong likelihood of further decline as the downtrend is still intact. The rally was merely a reaction to temporary news of Donald Trump’s tariffs rather than a real return of bullish momentum.  Analyst Warns Of A 30% Crash RLinda’s chart also reflects a broader descending channel pattern that has defined Dogecoin’s price trajectory since February 14. This descending channel has been highlighted by lower highs and lower lows. After the false breakout above $0.162, it seemed the channel had finally been broken, but the…

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Filed under: News - @ April 12, 2025 5:19 am