Dogecoin Must Maintain Price Above $0.168 to Avoid 30% Drop
Analyst Ali Martinez indicates that Dogecoin must maintain its price above $0.168 to prevent a potential 30% drop. Currently, Dogecoin is trading at approximately $0.177.
Key Points
- Dogecoin is forming a Symmetrical Triangle pattern, suggesting consolidation between two converging trendlines.
- The price is nearing the triangle's apex, indicating an imminent breakout could occur.
- Breakouts in this pattern can be bullish or bearish; a move below the lower line may lead to significant losses.
- Maintaining above the $0.168 level is crucial to avoid a steep decline.
- The asset has seen a decrease of over 4% in the last week.
