It was the coded currency market Returning from a wider sale processAnd Dogecoin did not explode, as its price recently decreased to its lowest level for three months at $ 0.20. Although there is a slight recovery, the concerns remain that the decline has not yet ended. According to the encryption analyst known as David_perk on TradingView, Dogecoin is still in a strong landing direction, as indications indicate more losses that can see a Mimi currency up to $ 0.15.
Weak the price of Dogecoin and the risk of more decrease
The collapse of the last Dogecoin price was a very arduous step for the upscale investors. However, the collapse led to a recovery at a level of $ 0.2, and now it seems that it settles at this support level. While this is a temporary slowdown in the accident, technical analysis shows that there is still a The risk of more negative moves.
David_perk, Who participated in his outlook On TradingView using the 12 -hour CogeCoin Candlestick chart, it confirms that the Meme coin is still in a steady drop. According to the analysis, there are no clear signs of a bullish reflection at this stage, with the continued action of the price in contrast to the pressure pressure.
David_Perk analysis indicates that DOGE is I am currently put inside A strong convergence channel that approaches the critical daily direction line. It is worth noting that this descending channel has been in formation since the beginning of this year.
The loss of multiple support levels increases the argument that Dogecoin can go to another leg down. The levels of decline in Fibonacci and historical price data enhance this landmark, as the analyst expects a minimum decrease by 30 % of the current levels.
Is an additional collapse to $ 0.15 is really coming?
According to the analyst, Dogecoin can continue to decline until it goes to $ 0.15, based on historical levels and levels of Fiboncaci. It is worth noting that the last DIP may erase a large part of the gains of Dogecoin holders that have accumulated since October 2024, and if the decline extends to $ 0.15, this will be the almost very reinforced retreat that began late last year. In particular, such a step will constitute a 68 % loss of the highest multi -year -old in Dogcoin in December last year.
At the time of this report, Dogecoin is traded at $ 0.21, an increase of about 4.5 % over the past 24 hours, but it is still 16.5 % low in the timeline for seven days. The only way To avoid such dipping To $ 0.15 is if Doge Bulls can maintain a higher foothold of support at $ 0.20 and break above $ 0.25. Failure to break more than $ 0.25 would keep Dogecoin trapped in its concession channel. The next thing in this case is to create a lower level, which will eventually translate into a collapse less than $ 0.20.
Fortunately, Data appears on the chain Long -term reservation addresses are still in “DENAIL”, which is still a positive sign.
Distinctive image from Medium, Chart from TradingView.com
