Dogecoin Struggles at Key Price Range of $0.1850 to $0.1950
Dogecoin is currently testing a crucial price zone, with analysts Cantonese Cat and ANBESSA providing overlapping insights.
Key Price Levels
- Cantonese Cat identifies a demand zone between $0.1850 and $0.1950.
- This zone has alternated roles since February, supporting price initially and then capping rebounds in March and April.
- A “trident bottom” pattern has formed, indicating potential price movement.
- A daily close above $0.1950 could signal a return to the early-May gap; a drop below $0.1850 risks revisiting April's low near $0.13.
Market Analysis
- ANBESSA notes a significant price context, tracing a rally of 413% from a September 2024 low near $0.09.
- The current sell-off aligns with a 73% retracement, with support at the 0.382 Fibonacci level of $0.1412.
- A rebound could target the 0.618 Fibonacci level at $0.2686, with resistance around $0.29-$0.30.
- Failure to maintain current levels may expose further downside risks, particularly the 0.382 level at $0.1412.
Both analysts emphasize the importance of the $0.1850–$0.1950 corridor for future price direction. As of now, Dogecoin is trading at $0.196.