14 hour ago
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Dogecoin Faces 7.3% Weekly Decline Amid Symmetrical Triangle Breakdown
Dogecoin (DOGE) is attempting to maintain a critical support level amid recent market volatility, with potential for a recovery or further decline.
Key Points
- Dogecoin experienced a 4.2% intraday decline, trading around $0.122 after losing over 50% from early October highs.
- DOGE remains in the $0.120-$0.135 range, struggling to break past $0.135.
- The cryptocurrency attempts to hold the $0.120 support zone to prevent further losses.
- Analyst More Crypto Online suggests a possible 20% drop toward $0.096 and $0.08 levels if no upward movement occurs.
- Crypto Jobs warns of weak buying volume and a lack of bullish reversal structure while DOGE stays under $0.14-$0.15.
- BitGuru sees DOGE sitting in a major demand zone ($0.120-$0.130) with potential for a rally towards $0.18 if current levels hold.
- Trader Tardigrade notes a new symmetrical triangle pattern forming on the H4 chart, indicating a possible 15% move either way.
- If DOGE falls below the pattern's lower boundary near $0.123, it may drop to the $0.10-$0.11 area.
As of now, Dogecoin trades at $0.122, marking a 7.3% decline over the week.
