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The crypto market ticked slightly higher on Wednesday as investors braced for the Federal Reserve’s interest rate decision. All eyes are on the central bank’s monetary policy announcement, due at 2:00 p.m. ET, with Fed Chair Jerome Powell’s speech expected to offer key insights into future rate changes and the broader U.S. economy. Dogecoin Rebounds Ahead of Fed Announcement 🔹DOGE Price Update: Dogecoin traded at $0.1727, up 3.94% in the past 24 hours, showing signs of recovery after recent losses. 🔹Volume on the Rise: Trading activity picked up slightly, with 4.42 billion DOGE moved—valued at around $766 million, marking a 15% surge in volume, according to Coinpedia Market data. 🔹Market Mood: Most cryptocurrencies, including Dogecoin, were trading in green ahead of the Fed’s decision, showing investor optimism. Price Levels to Watch: What’s Next for DOGE? 🔹Recent Pullback: Dogecoin dropped to $0.164 on May 6 after three consecutive red days, briefly slipping below the 50-day Simple Moving Average (SMA) at $0.169. 🔹Back Above Key Support: The price has since bounced back above this level, suggesting short-term support is still intact. 🔹Rangebound Trading Likely: The Relative Strength Index (RSI) sits near the midpoint, signaling possible sideways movement between $0.14 and $0.21. 🔹Upside Potential: If bulls push the price past resistance and hold above the 50-day SMA, a rally toward $0.21 is possible. A break beyond this could take DOGE to $0.2644, aligning with the 200-day SMA. 🔹Downside Risk: On the flip side, slipping below the 50-day SMA again could drag DOGE back to strong support at $0.14. Will Dogecoin Break Out or Break Down? Dogecoin is showing signs of strength ahead of the Fed’s rate announcement, but it still faces hurdles. Whether it can break resistance or fall back depends on market sentiment—and Powell’s tone. 👉 Check our full Dogecoin Price Prediction article for expert insights and what’s next.👇👇 https://coinpedia.org/price-prediction/dogecoin-price-analysis/

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