Dogecoin’s work is In a critical decision areaAccording to the new technical analysis that the encryption analyst in TradingView. This analysis comes at a time when Bulls Dogcoin accumulates in a range of $ 0.16 to successfully defend this price level during the past 24 hours.
The main procedure has prompted the MIM currency to re -test the historical support area today, and the coming days will determine whether it is Dogecoin breaks less Or a recovery starts towards a $ 0.20 area.
Dogecoin is close to support with the formation of a rolling triangle
the Note the analyst that Dogecoin is traded within a Triangle pattern landing, The declining structure that can see the price is usually continuous if the support is broken. This support is located in the horizontal area between $ 0.164 and $ 0.18, and is highlighted as a accumulation area where buyers previously entered.
The Ichimoku cloud indicates a continuous declining trend, but the analyst has given some early signs of exhaustion in the landfill that indicates that Dogecoin may be a bottom at $ 0.16. However, it is necessary to confirm before making a decision about any bullish momentum. For example, the RSI index decreased to about 32.98, about the excessive region but has not yet appeared a strong difference.
At the same time, the oscopy of the direction of the wave (WTO) is also deep in the excessive sale area, as its signal lines start to the upper ventilation that shows a potential short -term bounce. On the other hand, MACD has not confirmed a reflection, as its signal line has not yet been crossed.
The pressure pressure continues to continue
Dogecoin has spent the largest part of the past seven days about $ 0.16. Interestingly, the analyst noted that a MacD fee is shrinking on the downside, indicating weakness of the declining momentum. However, the Form its highest level It reveals that the sellers are still putting pressure, which prevents any meaningful upward step.
Algo, who tracked the potential market turning points, has never been a strong upward signal. However, the pressure of his lines indicates that the penetration is either up or down may be very close. The analyst notes this as a “decisive decision zone”, where a fixed defense can cause a level of $ 0.164 to return about $ 0.20 or even $ 0.21, coinciding with the level of Fibonacci tradition 0.236. Moreover, a break higher than $ 0.21 and a strong purchase can pay the price of Dogecoin until it reaches more resistance resistance at $ 0.28, and then $ 0.455, according to the 0.786 Fibonacci level.
If Dogecoin fails to get $ 0.164 support, the price can be recovered more until it reaches $ 0.11 to $ 0.12 at the lowest market levels. Such a move will essentially see Dogecoin’s return to price levels that have not been traded since Q4 2023.
At the time of writing this report, Dogecoin He was trading at $ 0.1696.
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