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In a technical update posted on X, Crypto More Crypto Online (MERECRYPTONL) presented the DOGE/USD scheme for one hour (Binance) showing a risky side movement and a possible transformation point for Mimi. At the time of the press, Dogecoin is stuck around the $ 0.25 area, barely moving after a significant decrease in early February, with little to confirm the final bottom in place.
Dogecoin stuck in forgetfulness
From putting signs on the graph, analyst Hire A mixture of the Illiot wave and Fibonacci retreat levels to draw a possible Dogecoin map. It is worth noting that a wide corrective sequence called (1), (4), C, A, B, W, X, Y highlighting multiple interrelated waves – respectable for an extended correction instead of declining a simple price.
In the latest leg to the bottom, the analyst’s signs show a major decrease in the swing ranging from 0.21 – 0.22 dollars, which coincides with a possible wave (4) on the graph, although the presence of “Alt 4?” The sign may still indicate that this may still have a alternative number to pull the price of Dog deeper into a last correction.
The main support levels are 78.6 % of $ 0.22 – $ 0.24, which are 78.6 % main support levels near $ 0.220, with 50 % levels, with major support levels. These overlapping areas appear as the price of Doug wore and uniformity during the past few sessions.
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Despite the complex wave structure, the analyst notes that “there is no clear confirmation of the bottom.” The price was associated with the mid -$ 0.25, and it lacks the momentum that is usually seen in strong direction repercussions.
More online encryption confirms two basic levels that may confirm the upcoming reflection: $ 0.293 – a fracture over this region may provide the first concrete signal nullifying the current lower wave charges.
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Until these thresholds are breached, the analyst remains cautious, noting that while they were “tending to decrease in existence”, there is no specific evidence to support it. Decisive observation is the silent apostasy off its lowest level, while bitcoin price witnessed a strong move on Thursday.
According to the scheme, every subsequent height was shallow, and he failed to get a meaningful and hinting traction until the sellers were still active. This confirms the broader uncertainty. If buyers are not able to pay more than $ 0.293 soon, the side drifting of Dogoin may continue. A deeper decline can lead to less than 0.22 dollars to a more extensive corrective pattern, called the graph as (5) or C, and it challenges the upscale hopes that the Last Swing Low is the bottom of the course.
The analyst said: “Although some plans that show strong moves today, the price of Doug remained stagnant, with no clear confirmation of the bottom. The price continues to move sideways, and it lacks the decisive momentum. A break above $ 0.293 will be the first step in Referring to a possible reflection, with a stronger confirmation of a step exceeding $ 0.341. The bullish transition from the lowest level is very small so that it is not meaningful. “
At the time of the press, Dog was traded at $ 0.25.
Distinctive image created with Dall.e, Chart from TradingView.com
