Dogecoin Price Hovers at $0.162 Amid Market Uncertainty
Dogecoin is trading around $0.162, up 13% from last Sunday’s low, but analysts warn of potential volatility. More Crypto Online suggests the market is in a "wait-and-see situation," with possible outcomes of either a bullish move or a decline to $0.14.
Key Analysis Points
- The advance since June 22 remains incomplete, described as a three-wave move.
- The June 22 low is within a demand band of $0.15 to $0.14, significant for Fibonacci levels.
- If Dogecoin achieves a fourth-wave higher low and extends to a fifth wave near $0.174–$0.177, it may confirm a bullish trend.
- A break below $0.158 could indicate failure of the upside reversal, risking a drop back towards $0.14.
- Holding above $0.158 and pushing past $0.17 would signal a potential durable bottom.
- Confirmation of a five-wave impulse would allow traders clearer risk parameters; failure risks prolonged downside consolidation.
Current trading price is $0.161. The outcome hinges on immediate price action around $0.158.
