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Two days ago, a cryptocurrency analyst accurately predicted Dogecoin price collapsewhich has happened since then. According to the latest analyst forecast, Dogecoin is preparing for a steeper decline, with an expected decline of 30% from the current trading price.
Analysts expect prices to fall by 30%
The price of Dogecoin dropped to $0.35, marking a massive 14% drop over the past seven days. Earlier this month, Dogecoin was trading at over $0.4 USD after witnessing a sharp rally driven by positive market sentiment fueled by Donald Trump wins In the US presidential elections.
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The TradingView cryptocurrency analyst, known as “MMBTrader,” who accurately predicted the recent Dogecoin price collapse, is now… It has been updated His forecasts warn of further possible declines. The analyst shared a chart and analysis Dogecoin price movement and potential future movements. DOGE price is currently trading above $0.3, and is slowly approaching $0.3 Critical resistanceThe red zone is lit at the $0.438 level.
The red arrow on the chart shows Possible correction in the short termis set to lead to a collapse of Dogecoin price to the central support area near the $0.25 mark. This significant price drop indicates a 30% drop from the current Dogecoin price. In addition, the analyst indicates that this expected price breakdown is a retracement, in line with the 0.618 level, which is the Fibonacci level indicated on the chart.
The TradingView analyst also revealed that if Dogecoin price can establish a strong support at the $0.25 level, it could confirm Continuation of the upward trend. Such a development could pave the way for a potential rise in Dogecoin prices in the near term.
Moving forward, green stocks per analysts DOGE price chart Pump represents the next possible stage. The analyst predicted that a strong rebound from the $0.25 support level could lead to a new bullish phase for Dogecoin. Additionally, he expects a new upside target towards the $0.75 region for Dogecoin, marking an important point. Jumping to new record highs in prices.
Overall, the TradingView analyst identified $0.45 as a level to pay attention to. Although a drop to $0.25 would represent a 30% collapse for Dogecoin, a potential rise to $0.75 would represent a 115% price increase.
Dogecoin price hacked to $1
while Dogecoin experiences fluctuations and declinesTrader Tardigrade, a prominent cryptocurrency analyst, expressed confidence regarding the meme coin’s potential turn to the upside. According to the analyst, Dogecoin is currently in place Moving In a specific range between $0.33 and $0.49, it is marked by the purple rectangle in the price chart.
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Looking at the chart, this represents range A The period of unification During which Dogecoin price appears to fluctuate between resistance and support areas. The analyst has explained that a break above the upper limit of the range could continue Dogecoin’s rally New all-time highs Priced at $1.05.
Featured image created with Dall.E, chart from Tradingview.com