Dogecoin (DOGE) Price is Primed for a Breakdown Below $0.3, May Trigger a 30% Plunge
this Dogecoin price In the past few years, acute strength has been shown after reaching the bottom of the rock on the bear market. Whenever the price is trying to establish a strong upward trend, the bear team will work hard to limit the rally. As a result, for a long time, the governor’s price has remained below $ 0.1. However, after the latest upgrade, the new ATH seems to be coming, but the current trade settings indicate that 20 % of the callback is coming soon.
After Dogecoin & Shiba INU, PEPE has attracted widespread attention, and in a short period of time, according to the market value, it becomes the third largest memorial. Since then, PEPE price It has been showing progressive movements. At the same time, in the past few months, the model that Dog Coin has been followed is PEPE. If the tallest Memecoin is tightly copied PEPE Price Rally, this implies a possible callback.
source: X
The above chart shows the comparison between the two price models, which indicates that the price of the DOGE price follows the price of PEPE, which has been merged around ATH for some time. At the same time, the price failed to defend the support volume of $ 0.000017, resulting in a local bottom of 30 % of the callback to nearly $ 0.0000114. At present, the governor’s price has reached local support. If the Bulls fail to rebound, it may face 20 % of the callback.
What is the next step of Dogecoin (DOGE) price rally?
After the latest callback, the price of Dogecoin has dropped below the upward trend line, which has always been a strong support. In addition, the price that cannot be restored to losses may cause concerns about the next price action. Therefore, the prices of Governor seem to lose support at a price of $ 0.3.
It can be seen from the above figure that the prices of the governor are facing up and down pressure, and the level may be dragged to a support area between $ 0.29 and $ 0.309. Because RSI is reduced and lower than the decline trend line, the target of the decline has been activated. Therefore, the Governor’s price is expected to be less than $ 0.3, reaching $ 0.246 on 0.382 FIB. This may be that RSI may reach a lower threshold. If the horizontal rebound is triggered, the price of the dog may rebound and restore to more than $ 0.3, otherwise it will fall to $ 0.2.
