Has The Dogecoin Price Bottomed Out? Analyst Points Out ‘Critical Decision Zone’

Has The Dogecoin Price Bottomed Out? Analyst Points Out ‘Critical Decision Zone’

Trusted Editorial content material, reviewed by main trade specialists and seasoned editors. Advert Disclosure

Dogecoin worth motion is at a important choice zone, based on a brand new technical evaluation shared by a crypto analyst on TradingView. This evaluation comes as Dogecoin bulls accumulate within the $0.16 vary to efficiently defend this worth degree previously 24 hours.

The worth motion has pushed the meme coin to at present retesting a historic help space, and the approaching days will decide whether or not Dogecoin breaks decrease or begins a restoration towards the $0.20 area.

Dogecoin Nears Assist With Bearish Triangle Formation

The analyst famous that Dogecoin is buying and selling inside a descending triangle sample, a sometimes bearish construction that might see the worth proceed downward if help is damaged. This help is located on the horizontal zone between $0.164 and $0.18, highlighted as an accumulation space the place consumers have beforehand stepped in. 

The Ichimoku Cloud signifies a persistent bearish development, however the analyst flagged some early indicators of exhaustion in downward momentum that means that Dogecoin may be bottoming at $0.16. Nonetheless, affirmation is required earlier than deciding about any bullish momentum. As an example, the Relative Power Index (RSI) has fallen to round 32.98, nearing oversold territory however not but exhibiting robust divergence. 

Concurrently, the Wave Development Oscillator (WTO) can also be deep within the oversold zone, with its sign strains starting to twist upward that reveals a attainable short-term bounce. Alternatively, the Transferring Common Convergence Divergence (MACD) nonetheless hasn’t confirmed a reversal, as its sign line has but to be crossed.

Promoting Stress Continues To Linger

Dogecoin has spent the bigger a part of the previous seven days round $0.16. Apparently, the analyst famous that the MACD histogram is shrinking on the damaging aspect, exhibiting bearish momentum is weakening. Nonetheless, the formation of decrease highs reveals that sellers are nonetheless exerting stress, stopping any significant upward transfer. 

The cluster algo, which tracks potential market inflection factors, has not but flashed a powerful bullish sign. Nonetheless, the compression of its strains reveals {that a} breakout both up or down could also be very shut. The analyst refers to this as a “critical decision zone,” the place a agency protection of the $0.164 degree may trigger a transfer again towards $0.20 and even $0.21, coinciding with the 0.236 Fibonacci retracement degree. Past that, a break above $0.21 and powerful shopping for quantity may push the Dogecoin worth till it reaches robust additional resistance at $0.28 and subsequently $0.455, based on the 0.786 Fibonacci degree. 

Ought to Dogecoin fail to carry the $0.164 help, the worth may retrace additional till it reaches the $0.11 to $0.12 zone seen in market lows. Such a transfer would primarily see Dogecoin returning to cost ranges it hasn’t traded in since This fall 2023.

On the time of writing, Dogecoin was buying and selling at $0.1696.

Featured picture from Technext, chart from TradingView

Editorial Course of for bitcoinist is centered on delivering completely researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent assessment by our group of high know-how specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.

Supply hyperlink

author avatar
Crypto Dunia
bitcoin
Bitcoin (BTC) $ 108,940.19 0.71%
ethereum
Ethereum (ETH) $ 2,559.97 1.72%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.26 2.00%
bnb
BNB (BNB) $ 661.43 0.81%
solana
Solana (SOL) $ 150.92 2.57%
usd-coin
USDC (USDC) $ 1.00 0.00%
tron
TRON (TRX) $ 0.287564 1.54%
dogecoin
Dogecoin (DOGE) $ 0.170802 4.04%
staked-ether
Lido Staked Ether (STETH) $ 2,559.48 1.73%
cardano
Cardano (ADA) $ 0.584244 2.02%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 108,814.15 0.65%
hyperliquid
Hyperliquid (HYPE) $ 39.57 0.86%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,085.92 1.51%
sui
Sui (SUI) $ 2.90 0.62%
bitcoin-cash
Bitcoin Cash (BCH) $ 495.71 1.86%
chainlink
Chainlink (LINK) $ 13.45 1.88%
leo-token
LEO Token (LEO) $ 9.02 0.25%
stellar
Stellar (XLM) $ 0.252206 6.13%
avalanche-2
Avalanche (AVAX) $ 18.26 2.59%
usds
USDS (USDS) $ 1.00 0.02%
the-open-network
Toncoin (TON) $ 2.84 3.99%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 3.12%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,741.41 1.67%
hedera-hashgraph
Hedera (HBAR) $ 0.158792 3.57%
weth
WETH (WETH) $ 2,559.68 1.75%
litecoin
Litecoin (LTC) $ 87.22 0.01%
whitebit
WhiteBIT Coin (WBT) $ 44.99 0.68%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999555 0.08%
monero
Monero (XMR) $ 323.02 1.99%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 108,986.20 0.73%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.08%
bitget-token
Bitget Token (BGB) $ 4.45 1.19%
polkadot
Polkadot (DOT) $ 3.39 1.27%
uniswap
Uniswap (UNI) $ 7.39 1.05%
aave
Aave (AAVE) $ 284.92 4.55%
pepe
Pepe (PEPE) $ 0.00001 3.75%
dai
Dai (DAI) $ 1.00 0.00%
pi-network
Pi Network (PI) $ 0.463373 1.78%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18 0.01%
bittensor
Bittensor (TAO) $ 326.34 1.89%
okb
OKB (OKB) $ 48.38 0.41%
aptos
Aptos (APT) $ 4.45 0.91%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 183.42 2.68%
near
NEAR Protocol (NEAR) $ 2.17 1.91%
internet-computer
Internet Computer (ICP) $ 4.83 1.67%
ethereum-classic
Ethereum Classic (ETC) $ 16.62 1.79%
crypto-com-chain
Cronos (CRO) $ 0.081153 0.27%
ondo-finance
Ondo (ONDO) $ 0.793412 1.98%
susds
sUSDS (SUSDS) $ 1.06 0.03%
usd1-wlfi
USD1 (USD1) $ 0.999588 0.02%
kaspa
Kaspa (KAS) $ 0.077283 3.59%
mantle
Mantle (MNT) $ 0.571956 1.81%
fasttoken
Fasttoken (FTN) $ 4.43 0.16%
cosmos
Cosmos Hub (ATOM) $ 4.08 1.98%
gatechain-token
Gate (GT) $ 15.20 0.64%
vechain
VeChain (VET) $ 0.020824 1.56%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.68278 4.17%
official-trump
Official Trump (TRUMP) $ 8.62 1.01%
bonk
Bonk (BONK) $ 0.000022 17.59%
sky
Sky (SKY) $ 0.078907 3.70%
render-token
Render (RENDER) $ 3.22 2.27%
ethena
Ethena (ENA) $ 0.2619 3.28%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 108,911.18 0.78%
arbitrum
Arbitrum (ARB) $ 0.333835 2.43%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.183567 1.23%
filecoin
Filecoin (FIL) $ 2.28 1.70%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,554.80 1.58%
algorand
Algorand (ALGO) $ 0.177343 2.00%
jupiter-perpetuals-liquidity-provider-token
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.50 1.09%
worldcoin-wld
Worldcoin (WLD) $ 0.89098 3.10%
sei-network
Sei (SEI) $ 0.266074 0.90%
first-digital-usd
First Digital USD (FDUSD) $ 0.999548 0.15%
usdtb
USDtb (USDTB) $ 1.00 0.01%
tokenize-xchange
Tokenize Xchange (TKX) $ 17.79 13.24%
kucoin-shares
KuCoin (KCS) $ 11.05 0.29%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 160.08 2.39%
usdt0
USDT0 (USDT0) $ 0.998788 0.13%
jupiter-exchange-solana
Jupiter (JUP) $ 0.441882 1.69%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,682.72 1.75%
nexo
NEXO (NEXO) $ 1.23 1.39%
spx6900
SPX6900 (SPX) $ 1.30 5.49%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,915.12 1.71%
fartcoin
Fartcoin (FARTCOIN) $ 1.17 0.39%
flare-networks
Flare (FLR) $ 0.016575 0.42%
celestia
Celestia (TIA) $ 1.60 7.95%
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00 0.00%
injective-protocol
Injective (INJ) $ 10.59 0.73%
xdce-crowd-sale
XDC Network (XDC) $ 0.063129 0.71%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 1.55 0.57%
sonic-3
Sonic (S) $ 0.313096 1.99%
blockstack
Stacks (STX) $ 0.655946 2.78%
binance-bridged-usdc-bnb-smart-chain
Binance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999277 0.07%
pudgy-penguins
Pudgy Penguins (PENGU) $ 0.015626 3.83%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,732.61 1.73%
stakewise-v3-oseth
StakeWise Staked ETH (OSETH) $ 2,687.36 1.72%
optimism
Optimism (OP) $ 0.545973 3.04%
syrupusdc
SyrupUSDC (SYRUPUSDC) $ 1.11 0.02%
pax-gold
PAX Gold (PAXG) $ 3,321.43 0.71%
Scroll to Top