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Dogecoin entered a critical stage because it merges less than the level of resistance of $ 0.26, in the face of increased pressure after sharp rejection last week. Since a mark on a local height on May 10, Dog has decreased more than 18 %, and some gains have regained her impressive gathering that started in early April. Bolls built a strong momentum after collapsing over $ 0.13, which was 100 % price increase within a month. However, the last basic procedure indicates that the step may be suspended.
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The market is now closely monitoring to see if Dogecoin can defend the current levels or whether the additional downside is on the horizon. According to senior analysts, Ali Martinez, the last refusal of the door to the potential reconsideration to the level of $ 0.213 – a major area that was previously resistance and support. This level may now be a price magnet if the bullish control continues to fade.
Although the feelings remain optimistic with caution, the next step depends on whether the bulls can restore momentum or if DOGE reduces its local range. The coming days can determine the path of the average trend of Dogecoin, with fluctuations that you likely pick up.
Speculation rises, but Doug faces a decisive test
During the last correction that sent shock waves across the encryption market, Meme coins like Dogecoin were among the most severely affected assets. Since Bitcoin and Major Altcoins have faced highly slope recovers, DOGE has seen an aggressive decline, as it has fallen more than 18 % since May 10 and erased a large part of its previous gains. This correction disrupted the bullish structure that was formed after Dog rose more than 100 % of early April, after the outbreak of $ 0.13.
Despite the decrease, speculation continues to wander around Dogecoin’s possibilities if the market regains momentum. Historically, Dog worked as a high beta origin, and often outperforms performance in the exhausted stages of the course. With the broader market attempt to achieve stability, some analysts look at DOGE as a potential beneficiary if the feeling of classification turns again.
However, the risks remain. The price is now hovering slightly higher than the main support levels, and failure to retain this area may lead to a deeper decline. Martinez shared an artistic viewpoint This indicates that if the current levels fail to keep them, Dogecoin may want to reconsider the level of $ 0.213 – a critical field previously was a launch platform during the April penetration process.
The upcoming sessions may be decisive. It can recover the Mimi coin if the bulls regain control and Dog is pushing for $ 0.26 resistance. However, if the landfill is built and broken, it will indicate a continuation of the current declining direction. Currently, all eyes remain on this central support area, where Dogecoin moves a moment of high risk within the uninterrupted conditions in the wider market.
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Technical Details: Dogecoin faces decisive demand
Dogecoin (Doge) offer weaknesses after failing to keep the main resistance near $ 0.26 earlier this month. The daily chart indicates that DOGE is currently being traded at $ 0.221, as it is merged over EMA for 200 days ($ 0.219) and under SMA for 200 days ($ 0.269). This range was a battlefield between bulls and bears, where modern candles make up narrow body structures, which indicates
The volume has decreased significantly since early May, indicating the loss of momentum and trading interest. If DOGE loses the support area from 0.219 to $ 0.220, the following logical support level is located near $ 0.213, as it is in line with analysts’ concerns about a possible re -test for this level. The collapse below this area can increase the pressure of the downside to the area of $ 0.19.
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In the upward direction, SMA will be for 200 days at 0.269 dollars a large upward signal, as it will restore Dog on long -term resistance. However, the current trend prefers a cautious position, especially amid uncertainty in the broader market and the weakness of feelings across Altcoins. In general, the graph reflects a temporary stoppage in the bullish momentum and the increased risk of restoring deeper unless the Doug regains the highest power than the main moving averages. The next few days can determine whether monotheism carries or turns into a complete correction.
Distinctive image from Dall-E, the tradingView graph
