Dogecoin (Doge) occupied some of the lost ground against BTC (BTC) on March 10, a day after the Dogecoin/BTC foreign exchange currency fell to its lowest level since October 2022. Can the price of Doge continue to rebound in the future?

On the daily chart, Doge/BTC pairs reached 331 SAT, up 4.75% from 316 SAT at the bottom of the previous trading time. The rebound occurred around a multi-month downward trend line that has limited the decline of the foreign exchange currency since November 2022.

Dog price VS BTC

Interestingly, Doge/BTC lowering the trend line may be part of a wide-ranging wedge-shaped approach. Traditional data chart analysts believe that the reduced wedge chart is the upside-down setting, especially since the model has a 62% chance of success at the upside price target level.

In Dogecoin's case, the price swings around the wedge-shaped end of the fall, which is actually the area where the left and right trend lines converge. Doge's latest rebound from the lower trendline enhances the probability of detecting a rise in the upper trendline, as shown in the figure.

The uplink setting further gets support from the Dow / Bitcoin Daily relative strength Index (RSI), with a reading of about 28. From a professional point of view, a RSI of less than 30 indicates that the foreign exchange currency is oversold and may cause its price to consolidate or rebound horizontally.

If there is an improvement, Doge/BTC could rise to 500 SAT by April, an increase of 50 per cent from total demand at this stage. The overall goal of rising gear is to sum the main spacing between the wedge-shaped cloth and the lower trend line and the cut-in point.

However, if you firmly break through the lower trend line that reduces the wedge, it is likely to invalidate the entire uplink layout. In turn, Doge could fall to 280 SAT, a historical time support line, down about 13% from total demand at this stage.

It is possible to take into account the unsuccessful downward wedge shape of Dogecoin in March 2022, when the Doge/ dollar pair fell below a relatively low trend line-and then lost 50 per cent.

Which way to the puppy Price?

However, in dollar terms, Dogecoin is still likely to fall, fundamentally due to increased macroeconomic uncertainty.

In recent years, the price of Dogecoin has soared mainly due to news-driven events and the strong support of Elon Musk, including the opportunity to give Doge payment options on Twitter.

But Mr Musk made it clear on March 3rd that he had shifted his focus from digital money to artificial intelligence. The billionaire entrepreneur did not explicitly nominate Dogecoin, but many explained that Musk was likely to distance himself from the industry of the future.

Since Marks tweeted, the price of Dogecoin has fallen by more than 20% to $0.060. In addition, professionally speaking, the price of gold is likely to fall another 10% in the coming weeks, retesting the old support line of around $0.055 to $0.042.

In turn, a rebound from the support segment could cause Pontiac's price to rebound to detect the triangle's upward trend line at around $0.076, resulting in an increase of about 15 per cent from the current total demand.