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Dogecoin is trading lower than the main levels after a decrease of more than 10 % after the upper price is made last night. The Meme Coin market continues the struggle, and Dogoin is not an exception. Since late January, DOGE has failed to restore the previous highlands and set less prices constantly every week. Investors grow cautiously because the pressure pressure is still strong, which prevents any meaningful recovery.
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Despite the last contraction, some analysts are still optimistic about Dog’s long -term horizons. Senior analysts Karl Ronville participated in a technical analysis of X, indicating that DOGE recently broke out of the long -term spoiler and is now re -tested. Historically, the escape of the fall of the falling resulted in major escalating movements, provided that the collapse is confirmed.
If Dogecoin maintains a higher company than this main level and successfully emphasizes the completion, it may follow a huge step in prices, which may reflect the declining direction. However, failure to maintain this level may lead to more declines, pushing Dog to low -order areas. The next few days will be decisive in determining the trend of prices in the short term for Dogecoin, where traders monitors an affirmation of the outbreak or other shrinking signs.
Investors continue to sell Dogecoin: Can this change?
Dogecoin faces a decisive test because it tries to break the main resistance without less than critical demand levels. The bulls are now restoring the lost lands that can ignite a large gathering, but the price procedures are still unconfirmed in the short term.
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The Meme Coin market is offered intense pressure, and DOGECOIN struggle to establish a strong demand despite multiple attempts. Investors closely monitor the signs of strength, but so far, the bulls failed to generate the momentum needed for continuous recovery.
Runeft technical analysis It reveals that Dog broke out recently of the long -term softening pattern and is now in the process of re -testing it. Historically, the decrease in the escalating escape led to explosive price movements, provided that the rest operations are. Runefelt set a target target of $ 0.434 in the coming weeks if the penetration remains intact.
However, despite this bullish preparation, there is no clear trend for the broader encryption market as long as Bitcoin remains less than the level of $ 100,000. With BTC driving the entire industry, the Meme coins like Dogecoin will follow Bitcoin movements. If BTC regains the main levels, DOGE may have a rapid increase in prices, but the continuous uncertainty in the market can limit its upward potential.
Dog Test short -term liquidity
Dogecoin is trading at $ 0.21 after a strong increase of 33 % over the past few days. The bulls gained a simple advantage, which pushed the price above the main resistance levels. However, in order to maintain a momentum, it must exceed a score of $ 0.20, which now works as short -term support.
If Bulls succeed in recovering $ 0.255 in the coming days, Dogecoin may see a significant decrease, leading to a huge recovery stage. The step above this level would confirm a bullish reflection and may lead to increased purchase, which sends Dog towards higher resistance areas.
However, the market is still volatile, and the loss of $ 0.20 can reflect the recent gains quickly. If Doge fails to obtain this support, a 15 % decrease may follow, which restores the price to low demand areas. Traders closely watch Bitcoin because any btC main sale can affect Meme currencies, including Dogecoin.
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Currently, Dog Bulls controls, but you should continue to defend key levels to maintain the current upward trend. A decisive step in either directions will lead to placing the theater on the next big step for Dogecoin.
Distinctive image from Dall-E, the tradingView graph
