NewsBTC
7 March 2025
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Dogecoin Must Maintain $0.19 Support to Avoid Drop to $0.015

Dogecoin (DOGE) is at a critical point, according to analyst Ali Martinez. The cryptocurrency is trading within an ascending parallel channel established since 2014 and currently rests above a key support zone.

Key Observations

  • DOGE has historically bounced off the lower boundary of this channel, rising towards the upper resistance level.
  • Failure to break above the channel's ceiling leads to declines back to the lower boundary.
  • Important Fibonacci retracement levels include:
    • 0.236 Fib at around $0.0068
    • 0.382 Fib at around $0.0159
    • 0.5 Fib at around $0.0316
    • 0.618 Fib at around $0.0625
    • 0.786 Fib at around $0.1652
    • 1.272 Fib at around $2.74
    • 1.414 Fib at around $6.24
  • The $0.16–$0.19 support zone is critical for DOGE's uptrend.
  • A decisive break below $0.19 may trigger a drop to $0.015.
  • If the lower boundary at $0.16 holds, potential rebound targets include $2.74 or $6.24.

Currently, DOGE trades at $0.20. A confirmed decline below $0.16–$0.19 could lead to significant bearish momentum, negating recent gains.