Dogecoin is trading above $ 0.20 after days of intense sale and fluctuation at the market level. The bulls have lost control of the price procedure, and Dog is now at risk of a decrease if it fails to obtain major support. The broader Meme Market was also hit, which contributed to Dogcoin's struggles with feelings of weakness.
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The best analyst Ali Martinez shared a technical analysis on X, and revealed that DOGE tests the level of high frame support about $ 0.18. This level was historically as a strong demand area, which makes it important to defend bulls. If Dog is able to keep this support and restore a level of $ 0.22, the short -term recovery march may be possible.
However, if the pressure pressure continues and Dog is lost $ 0.18, the next station may be much lower. Market conditions remain unconfirmed, and traders closely monitor whether Dogecoin can settle or if the additional downside is on the horizon. The next few days will be very important in determining whether Doge can recover or whether it will continue to follow the downward trend that has controlled the market in recent weeks.
Dogecoin test level demand for long -term
Dogecoin is trading without a $ 0.25 mark, which is the main price level that will determine the short -term trend. Analysts warn of more negative risks as the market continues to face heavy sales pressure. The most difficult Mimi currency sector has been hit during this correction, and DOGECOIN drives the road by 36 % in the past two weeks. Feelings are still downward, and investors are looking for stability marks before considering any possible recovery.
Share Martineza Technical analysis on xAnd revealed that Dogecoin is trading above the critical support level of about $ 0.18. This level is very important to maintain the long -term bullish structure.
If Bulls managed to keep this sign, it may prevent more from the negative side and provide a basis for the recovery equipment. Martinez also notes that Doug is currently holding around the lower border of Macro's upward channel. Historically, this level was a strong support zone for the purpose of the price.
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If Dogecoin keeps this level, it may follow a huge march, which may push the price again towards the resistance level of $ 0.25. However, if support fails, Dog may have deeper correction. The next few days will be very important in determining whether Doge can maintain its upward structure or whether it will continue its declining direction.
The crucial stage for doing the price of Duj
Dogecoin is trading at $ 0.20, sitting at a short -term resistance level slightly less than $ 0.21. The bulls try to restore control, but the sale is still strong, which makes it difficult for Doug to break above this main price point. If Bulls succeeded in recovering the level of $ 0.21 and pushing it over the 0.25 brand, it may follow a strong rise to higher prices, which transforms the market morale for buyers.
However, the risk of the downside remains great. If Doge fails to keep their current levels and lose support at $ 0.18, this may lead to a deeper correction, which causes the price to decrease in demand areas. This level was a decisive support for Dogecoin, and its loss may lead to more sales in the broader Meme Coin market.
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The next few trading sessions will be decisive in determining the direction of Dog. The collapse above the resistance can indicate the start of recovery, while failure to maintain main levels may lead to more landfill. Traders closely monitor to confirm any of the scenario as Meme currencies continue to face extreme fluctuations in the current market conditions.
Distinctive image from Dall-E, the tradingView graph
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