Dogecoin has extended its sell-off over the past week, currently down 27% in the last seven days. At press time, Dogecoin was trading 7.13% lower in the last 24 hours, priced at $0.1825. This decline comes as the broader crypto market tracked losses on Wall Street amid concerns regarding the banking sector and escalating trade tensions.
Investors are closely watching the ongoing government shutdown, now in its third week, as lawmakers fail to reach an agreement on the federal budget. During the shutdown, federal agencies have suspended the release of crucial economic data, limiting investors’ ability to properly assess the health of the U.S. economy.
Minutes from the Federal Reserve’s September meeting revealed a divided Federal Open Market Committee (FOMC) regarding the number of interest rate cuts expected in the near future. The FOMC is scheduled to meet again on October 28-29 to make its next monetary policy decision.
**Dogecoin Confirms Death Cross**
Dogecoin has confirmed a death cross on its short-term chart, specifically on the 30-minute timeframe. A death cross occurs when a short-term moving average crosses below a long-term moving average, signaling a bearish trend. This technical indicator coincides with Dogecoin’s ongoing sell-off since the start of the week, marking its fourth consecutive day of decline following the October 13 high of $0.218.
The drop also reflects the broader market’s stalled recovery from last week’s massive liquidation shock, with the majority of cryptocurrencies facing downward pressure. Dogecoin reached a low of $0.175 early Friday amid these market conditions.
Looking ahead, if the market recovers, Dogecoin’s next resistance levels are expected at $0.206 and $0.237. Conversely, if the price breaks below current support, the next key support level is projected at $0.15, following a breach of the $0.178 support zone.
https://u.today/death-cross-alert-dogecoin-price-down-27-whats-next
