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Dogecoin (Doge) faces a critical turn on a long -term price scheme, according to prominent encryption analyst Ali Martinez. The widely circulated graph – generally shared via X and then anatomy In YouTube-Watch the DOGE Trading inside an upward parallel channel whose prices have been made since 2014. Now, the crypt-inspired currency is located over a major support area, if breached, can be launched in a severe decrease.
Dogecoin is broken?
In the long -term style, Martinez was highlighted, every time Doug wore the lower border of this emerging canal, rose towards the higher resistance level. On the contrary, Doug historically retreated to the lower border when it fails to break the canal ceiling. This course was repeated through the highest levels of swing in the 2017-2018 and 2021 periods, among other things, stressing the importance of the lower direction line of the channel to maintain the budget of the widest Doug.
Martinez’s scheme also features multiple levels of retreat and extension in Fibonacci, providing an insight into the prices of historical importance. These important horizontal thresholds are 0.236 FIB (about $ 0.0068), 0.382 FIB (about $ 0.0159), 0.5 FIB (about $ 0.0316), 0.618 FIB (about 0.062), and 0.786 FIB (about 0.1652), 1.272 FIB (around 2.74). It is worth noting that the region ranges between 0.16 – 0.19 dollars approximately with the lower boundaries of the thunderbolt canal and the upper end of the Fibonacci Group near $ 0.1650.
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In the latest on YouTube, Martinez warned that the decisive break that is less than $ 0.19 can open the door to destroy about $ 0.015, which corresponds to a FIB 0.382 alternative.
“Dogecoin can collide if this level of support that has been traded within an upward channel has lost since 2014. DOGECOIN has tended to apostasy from the lower direction line of this channel towards the upward resistance trend line, and from this level, Dogecoin tends to retreat to the lower support line and then returns to the repetition of the full cycle again. But now Dogecoin is in a critical stage if breaking the support level breaks the level of support $ 0.19, as it may lead to a correction to $ 0.015. “
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A few days ago, it is male On X as long as the lower boundaries of the channel are at $ 0.16, Dog maintains an opportunity to apostasy towards the intermediate canal or even the upper direction line. “Doug is still within an upward parallel channel. As long as the lower borders are at $ 0.16 held, the apostasy towards the medium canal at $ 2.74 or even the upper borders at $ 6.24 is still a possibility!” Martinez note.
However, the upscale expectations depend on the preservation of this vital support area. A certain decrease is likely to confirm less than $ 0.16 – $ 0.19 of a major declining shift, paving the way for the sharp corrective stage described by Martinez. Such a scenario would reconsider price lands near $ 0.015, as Dogecoin gains on several courses.
At the time of the press, Dog was traded at $ 0.20.
Distinctive image created with Dall.e, Chart from TradingView.com
