The post Can DOGE Price Defend $0.7 Amidst Current Market Turmoil? appeared first on Coinpedia Fintech News

在当前市场动荡中，DOGE 价格能否守住 0.7 美元？首先出现在 Coinpedia 金融科技新闻上

On November 18, the DOGE price witnessed a sharp reversal from the $0.0876 mark amid increasing uncertainties in the market. This reversal picked up additional momentum when the news spread about the Binance CEO, Changpeng Zhao resigning from his position. In the last five days, the Dogecoin price has declined 14% to currently trade at $0.074.

11月18日，随着市场不确定性的增加，DOGE价格从0.0876美元大关大幅反转。当币安首席执行官赵长鹏辞职的消息传出后，这种逆转得到了进一步的推动。在过去五天里，狗狗币价格下跌了 14%，目前交易价格为 0.074 美元。

However, a look at the daily timeframe chart shows this correction is part of the wedge breakout, indicating the Dogecoin price prediction is bullish in the mid-term.

然而，从每日时间框架图表来看，这种修正是楔形突破的一部分，表明狗狗币价格预测在中期看涨。

Multiple Supports Prevent Dogecoin From Major Correction

多重支撑阻止狗狗币大幅回调

Source – Tradingview

来源 – Tradingview

For nearly a year, the Dogecoin price has been walking a steady downtrend under the development of a falling wedge pattern. In theory, this chart pattern indicates the exhaustion of bullish momentum, as it is often spotted at the maturity of a downtrend. 

近一年来，狗狗币价格在下降楔形形态的发展下一直稳步下降。从理论上讲，这种图表模式表明看涨势头已耗尽，因为它经常出现在下降趋势的成熟阶段。

Amid the early November recovery, the DOGE price provided a bullish breakout from this upper trendline and reached a high of $0.0876. However, amid the recent downturn in the crypto market, DOGE price witnessed a sharp lead-off reversal to reach the current trading price of $0.074. 

在 11 月初的复苏中，DOGE 价格从上方趋势线看涨突破，并达到 0.0876 美元的高点。然而，在近期加密货币市场低迷的情况下，DOGE 价格出现大幅反转，目前交易价格为 0.074 美元。

The declining price is likely to retest the upper-trendline of the wedge pattern, this time as a potential support. In addition, this level coinciding with the 50 and 200-day EMA and 61.8% Fibonacci retracement level creates a strong support zone for buyers. 

下跌的价格可能会重新测试楔形形态的上部趋势线，这一次是潜在的支撑。此外，该水平与 50 日和 200 日均线以及 61.8% 斐波那契回撤水平重合，为买家创造了强大的支撑区域。

If the buyers manage to sustain this level, the post-correction rally could surge 60% higher to hit the $0.118 mark.

如果买家设法维持这一水平，调整后的反弹可能会飙升 60%，达到 0.118 美元大关。

Technical indicators:
RSI indicator: The daily RSI slope wavering at 50% reflects a neutral stance but is more inclined to negative sentiment with the current downturn.

技术指标：RSI指标：日线RSI斜率在50%左右波动，反映了中性立场，但随着当前的低迷，更倾向于负面情绪。

EMA: A bullish crossover between the 50-and-200-day EMA around $0.07 should create an additional layer of support for buyers.

EMA：50 日和 200 日 EMA 之间的看涨交叉点约为 0.07 美元，这将为买家提供额外的支撑。

Will the DOGE Price Fall Back to $0.57?

DOGE价格会回落至0.57美元吗？

If the market sentiment worsens, the Dogecoin price breakdown from the $0.07 threshold will pave the way for significant downfalls. Losing this multiple support at once could intensify the supply pressure and tumble the coin price 17% down to the October low of around $0.057,

如果市场情绪恶化，狗狗币价格突破 0.07 美元的门槛将为大幅下跌铺平道路。立即失去这种多重支撑可能会加剧供应压力，并使代币价格下跌 17% 至 10 月份低点 0.057 美元左右，