Dogecoin‘s (CRYPTO: DOGE) bearish price action could spell more weakness, as traders see looming weakness on the charts.
What Happened: Crypto trader Kevin highlighted Dogecoin’s weakness on the weekly chart. After a failed breakout from a six-month falling wedge and a strong rejection at the 200-week simple moving average, a bearish engulfing candle is now forming, signalling a potential return to the falling wedge.
If this pattern holds, it could be one of the most bearish setups that Kevin has encountered.
Full story available on Benzinga.com