Dokwin Current trading scope Between $ 0.18 and $ 0.24 may largely mimic the stages of the fixed accumulation seen in previous bulls. Although its price movement appears silent on the shortest time frames, the technical analysis of the broader market cycles indicates that the M. currency may approach the end of the monotheism phase Enter the early stages of The path of collapse.
Fibonacci style indicates a continued rise
according to Modern publication before Crypto Javon Marks on the X social media platform, Dogecoin price movements over the years reveal a very consistent relationship with Fibonacci extension levels, especially the 1.618 level. Marx highlighted that in the previous two basic sessions, from 2014 to 2017 (session 1) and 2017 to 2021 (course 2), Dogecoin exceeded the Fibonacci extension 1.618 measured by its accumulation rules at its lowest levels in the bear market.
In the 1st session, Dog moved from the Fibonacci level in the 2015 bear market to a peak higher than the 1.618 Fibonacci level in 2018. This was translated into a transition from 0.00009 dollars to $ 0.00748, which represents an increase of more than 8,200 % of the low cycle.
2 course Follow a similar structure, Where the style exceeding the level of 1.618 FIB is true. DOGE was initially unified around the 0.00168 foundation of the foundation line 0.00168 during most of 2020 during the prolonged bear market. After that, in early 2021, the Meme currency began to rise strongly, restore the extension level 1.0 first about $ 0.11773, and eventually exceeds 1.618 at $ 0.39921. This penetration in Dogecoin was crowned to its highest level ever at all times, which is approximately $ 0.7326 in May 2021, an increase of 43,000 % of its decrease.
The next price goal for Dogecoin
As shown in the accompanying graph, Fibonacci’s projection begins for the current Dogecoin course at the lowest level in the 2022 bear market at 0.06036 dollars. This price point is the base line of what is now tracing as 3.
Taking into account Doccoin league behaviorThis places the current Fibonacci extension of 1.618 at $ 2.28008 for the ongoing session. It is worth noting that the 1.0 FIB extension level was already confirmed at $ 0.56953 after its highest level ever in Dogoin. Access to this translation price will be a 3670 % increase from the current price level, but Dogecoin can repeat what happened in the 2nd session and even exceeds 1.618 FIB.
It is worth noting that all penetration has not exceeded the Fibonacci level, but also re -seizing the base for the next macro. Therefore, the successful step exceeding $ 2.28 will complete the full third session Laying the foundation for Long -term assessment above one dollar threshold even in the next bear market. At the time of this report, Dogecoin is traded at $ 0.1912, an increase of 5.5 % in the past 24 hours.
Distinctive image from Getty Images, Chart from TradingView.com
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