Dogecoin’s Make-or-Break Moment: $0.19 Decides Its Fate
Note: This post may contain affiliate links, and we may earn a commission (with No additional cost for you) if you make a purchase via our link. See our disclosure for more info. The crypto world is constantly changing. This content is for informational purposes only and not financial, legal, or professional advice So, please verify the info on the cryptocurrency provider’s websites.
Dogecoin's price is teetering on a critical support level between $0.1850 and $0.1950, a zone identified by both Cantonese Cat and ANBESSA, two prominent cryptocurrency analysts. Their analyses, though differing in timeframe, converge on this crucial price range. Cantonese Cat's daily chart reveals a “trident bottom,” a pattern suggesting a potential bounce if the price closes above $0.1950. Conversely, a break below $0.1850 could trigger a further decline towards $0.13. ANBESSA's longer-term perspective, spanning fifteen months, shows Dogecoin's price action fitting a parabolic curve. The current price movement is seen as a correction toward the 0.382 Fibonacci retracement, intersecting both the rising parabolic guide curve and the 99-day moving average, aligning with ANBESSA's projections. The $0.20 area is highlighted as a significant point of control, representing the deepest historical trading interest since 2024. A break above this level could propel Dogecoin towards $0.2686, $0.28, and potentially even $0.35 or $0.42. However, failure at the current support level would lead to a retest of the 0.382 retracement at $0.1412, with an intermediate support at $0.1625. Both analysts emphasize that the price action within the $0.1850-$0.1950 range will determine Dogecoin's immediate future. The current neutral momentum, indicated by compressed moving averages and mid-range RSI, underscores the importance of this price zone in deciding Dogecoin's next move. The convergence of these analyses highlights the significance of this price range for Dogecoin's short-term and long-term trajectory.
(Source: https://www.newsbtc.com/news/dogecoin/dogecoins-fate-hinges-on-this-price-level-analysts-agree/)