Dogecoin May Drop to $0.12 Before Potential Rebound
Analyst Paul (@Zig_ZagTrades) suggests that Dogecoin (DOGE) could decline to $0.12 during a final corrective phase before a potential rebound. His analysis includes:
- A 1-day chart indicating a larger (A)–(B)–(C) correction.
- The completion of a five-subwave decline from a peak marked as Wave 1.
- Fibonacci levels indicating support around $0.12–$0.15, considered crucial for bulls.
- Key retracement levels between $0.16 and mid-$0.11.
- Ongoing bearish momentum confirmed by lower highs and lows.
- Consistent trading below the Ichimoku Cloud since January, indicating lack of bullish momentum.
Paul believes DOGE may complete its fifth subwave in the “Golden Zone” around the identified Fibonacci levels. Current trading price is $0.17.
