BABYDOGE Technical Analysis: Downtrend Grows Within Wedge Pattern

BABYDOGE coin price action maintains a falling trend within the bearish wedge pattern in the daily chart. Will the buyers get active any time soon? Key technical points: BABYDOGE coin price crawls at the descending support trendline. In addition, the price action shows a falling wedge pattern. Finally, the 24-hour trading volume of BabyDoge Coin is $4 Million, marking a 6.17% fall. Past Performance of BABYDOGE The BABYDOGE coin price shows growth in downtrend momentum within the falling wedge pattern. The rally breaks below the 50 and 100-day EMA but finds support at the descending support trendline. The downfall increases the possibility of wedge fallout. Source-Tradingview BABYDOGE Technical Analysis BABYDOGE coin price shows a rise in the underlying bearishness as the trend fails to showcase a bullish revolt from the support trendline. Hence, traders can expect a selling opportunity with the trendline fallout. The crucial EMAs (50, 100, and 200) project a bullish alignment, but the falling 50-day EMA might shortly give a bearish crossover with the 100-day EMA. Moreover, the prices sustain above the 200-day EMA, reflecting a trend reversal’s underlying opportunities. Vortex Indicator: The VI lines showcase a bearish alignment in the daily chart and continue to move sideways. Hence, the indicator reflects no signs of a bullish reversal. MACD Indicator: The MACD and signal lines struggle to maintain the bullish alignment in th...