Bitcoin Death Cross Could Mean This for Dogecoin (DOGE) Price

Bitcoin's recent Death Cross, indicating a potential bearish trend, signals concerning ramifications for Dogecoin (DOGE). On November 16, Bitcoin's 50-day moving average fell below its 200-day average, a pattern historically linked to price declines. This development came as Bitcoin traded below $94,000 for the first time since May, amplifying market fears and plunging sentiment to Extreme Fear levels. As a result, Dogecoin initially rallied 4.4% to $0.156, but late-session selling erased those gains. Analysts caution that ongoing macro trends affecting Bitcoin are likely to impact high-beta assets like DOGE. Notably, the meme coin’s trading dynamics are closely tied to Bitcoin, as rising selling pressure could weaken Dogecoin's price. The crucial support level to watch for DOGE is around $0.158; losing this threshold may push it down to $0.152-$0.148. Conversely, reclaiming $0.1604 and breaching resistance bands will be vital for reversing negative sentiment.

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