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Dogecoin decreased again in the sales lands on the graph for 4 hours on Tuesday, which represents the most obvious level of pressure pressure since sudden surrender on February 3. During that episode, the price decreased to about $ 0.20 before the bounce by 45 % in the same trading day – a step that confirmed how quickly the Dogecoin crowd from the sale conditions.
The price of Dogecoin falls into the extra sales area
in analysis Today, CAS abbé (cas_abbe) highlights the RSI reading that decreased to 30 on Tuesday, indicating that the pressure pressure may approach the limit. The Dogecoin Road began to this excessive level after its failure to keep the momentum near $ 0.28.
The cryptocurrency is currently trading about $ 0.25, an area that ABBé knows is historically vulnerable to strong support. It indicates that the negative emotions towards the Mechens caused by the Mimi Mim disaster by Argentine President Javier Millie seems to have reached the lowest levels. This, according to him, can create an attractive opportunity.
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Abbé projects that Dogecoin can transfer a short -term batch to $ 0.30, which is an important psychological level that coincides with the previous resistance. The step exceeding $ 0.30 can open the door to test the highest annual level, although the continuous upward trend may depend on the development of the broader market morale and whether the wider improvement in risk is improving.
“Dog has reached his most excessive levels since the surrender of February 3. Memories have reached its lowest level ever, which also represents a good opportunity to collect MEMECOINS worship. I expect a short -term transfer of about $ 0.3, followed by a new annual rise.”
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On Monday, ABBé also discussed a frequently visible ups on the 3 -day graph from Dogecoin. Three distinct convergence channels are followed in the DOGECOIN price movement – one in the fourth quarter of 2023, the other in Q3 2024, and the current that reveals in early 2025.
In each of the previous cases, the broken Dogecoin over the upper limits of the circulating canal, causing gains exceeding 150 %. Abbé notes that Dogecoin appears to be following a similar interlocking channel today, which ranges from about $ 0.36 on its upper border to about $ 0.24 at the bottom end.
If the same pattern is correct, the decisive rest over the canal resistance may lead to a high percentage. However, if Dogecoin moves less than that bottom boundaries, the bullish setting that was observed in two former homes will face a potential nullification.
At the time of the press, Dog was traded at $ 0.25.
Distinctive image created with Dall.e, Chart from TradingView.com
