Trust Editorial Content, reviewed by industry leaders and experienced editors. Disclosure of ads
Dogecoin’s price action has been under intense pressure After another support level, at $ 0.175 it was not maintained, which led to a decrease towards a crucial zone. The last daily candle closed with a lower wick after a rebound of the level of $ 0.143, but the technical analysis of the price of Dogecoin warns that there It can still be more volatility.
Despite a temporary rebound in the last 24 hours from $ 0.143, there are persistent risks of another recession. In particular, the Tradigrade Trader cryptographic analyst pointed out in an analysis that is still more work to do to reversal Dogecoin prices.
Price rejection at $ 0.143: Temporary rebound or weak recovery?
Cryptographic analyst Tardigrade trader prominent Dogecoin’s interaction with the support level of $ 0.143, noting that the daily candle formed a lower wick to $ 0.14297 before bouncing. This development suggests that buyers intervened at this price level to avoid more breakdown. However, Tardigrade warned that this rejection of prices alone is not a confirmation of a sustained recovery. The market could still see more evidence of this level, potentially with a short eventual breakdown before any significant upward trend can take place.
The recent decrease follows an earlier warning of Tardigrade, which had identified $ 0.143 and $ 0.128 as levels of reversion after Dogecoin closed below $ 0.175. Once that support was lost, the sellers obtained control and pushed the price down. Although Dogecoin has managed to have $ 0.143 for now, the feeling of the market is still fragile in the fear zone, and it is not yet clear if the last rebound has enough strength to lead to an investment or if it is coming more down in the next few days.
More Dogecoin price manipulation before a real reversal?
Dogecoin has been caught in a persistent lower trend in the last two weeks, reflecting the broader weak view through The cryptographic market. This sustained decrease has resulted in the leading memes currency to lose multiple levels of key support in rapid succession, essentially erasing most of its price earnings in the last quarter of 2024.
Investors are Currently going back In its investments in Doge, although it has been known as the election for retail investors compared to Bitcoin and other large -market limit cryptocurrencies. According to data in the chain, Feeling of investors around Dogecoin is at its most negative level of -0.93 in more than a year.
Tardigrade’s analysis suggests that Dogecoin could still experience price manipulation in the form of a brief fall below $ 0.143 before recovering. “Price rejection is only the first early sign of reversion. We still need to monitor the price action, ”he said.
This perspective resembles that of another cryptography analyst. who noticed that Dogecoin It could reach as low as $ 0.12 in the current lower trend before undergoing any important bullish reversal.
At the time of writing this article, Dege is quoted at $ 0.1702, fluctuating within a strict range between $ 0.1624 and $ 0.1726 in the last 24 hours.
Istock’s prominent image, tradingView.com graphics
Editorial process For Bitcoinist, he focuses on the delivery of content completely investigated, precise and impartial. We maintain strict supply standards, and each page undergoes a diligent review of our technology experts and experienced editors. This process guarantees the integrity, relevance and value of our content for our readers.
