Ali Martinez has been overburdening the situation around the price of DogCoin after his expiration on Monday by 2 % in the past 24 hours and now at about $ 0.15.
According to Martinez’s joint analysis on Twitter, Dogoin has criticized a major technical structure that has been supported since 2022. The weekly Paperitamite scheme is shown at the bottom of an upward parallel channel that has threatened the direction of recovery of cryptocurrencies for more than two years.
“Doge explodes from an upward parallel channel, indicating a possible move of about $ 0.060!” Notice Martinez in a tweet.
The current DOGE price of about $ 0.145 is slightly lower than the decisive RERECTING 0.786 Fibonacci level of $ 0.16395, which was working as support. This level of DOGE 2021 is drawn near $ 0.69 to the bottom of about $ 0.0017.
The collapse of this channel is considered landmark because the structure was a growing support hall throughout the Doug recovery period. With multiple weekly candles closed below this channel, the artistic image has deteriorated significantly.
#DogeCoin $ Doge It comes out of an upward parallel channel, indicating a possible step about $ 0.060! pic.twitter.com/p4NClpilnr
Ali (ali_charts) April 7, 2025
The historical context and the target of the target
Martinez’s goal is 0.060 dollars accurate Difficult repercussions. If reached, this will represent approximately 60 % of the decrease from the last high levels.
If we look back, Dogecoin quickly shot in 2021 before retreating. Then he often remained between $ 0.05 and $ 0.10 during 2022 and 2023. In recent times, Dogecoin tried to climb over $ 0.20, but it turned out that this is the wrong hope because the price could not remain above the important direction line.
Although the transition to $ 0.06 will continue to keep Dog in its long-term bullish structure (the remaining survivor of the Tawheed area 2022-2023), this decrease represents a significant to average to the average.
For Dogecoin holders, this technical breakdown is a warning sign that the largest Mimi currency may face great pressure unless its location quickly recovered inside the emerging channel.
Also read: Any encryption to buy on Dip? This altcoins looks less than its value now!
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