Dogecoin Is Setting For A Massive Leg Higher – Analyst Sees Bullish Consolidation Above Key Level
In the past two weeks, Dogecoin (DOGE) has been in a short -term decline. Since its local highlands on January 18, it has more than 29 % of its value. Memecoin is facing consistent sales pressure, reflecting a broader market uncertainty. However, because the Doge method supports price recovery in history, this decline may be over.
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Top analysts scientifically analyzed the technical analysis on X and emphasized that Dogecoin is setting up higher legs. According to Scient, Doge is currently consolidating the level of support higher than one day, and can also find strong support on 100 EMA a day. This marks the potential reversal, because the pressure of purchase is beginning to be established at these key levels.
if Dogecoin can retain this support Then push high, it may marked the beginning of the new rally, and the trader pays attention to the next key resistance level. The breakthrough of confirmation from this merger stage may promote the momentum of newly bullish and attract more investors to return to the market.
Dogecoin holds higher than key needs
Dogecoin’s transaction level is about $ 0.32, and the next few days are essential to determine its short -term direction. The market sentiment is still turbulent, and many analysts call for further decline because uncertainty has seized a broader cryptocurrency market. The decline in the beginning of January 18 has put pressure on the governor, and traders are paying close attention to whether it can maintain its current level or lower level.
Despite the mood of loser, top analysts scientifically shared Technical analysis on X It shows that Dogecoin may be preparing a large -scale assembly. According to Scient, DOGE is currently merging for 1 day of support, and at the same time, it has also received strong support on 100 EMA a day. Historically, these levels have always been the key turning point of Dogecoin, and their ability to maintain may indicate that buyers are intervening.
SCIENT also pointed out that the level of support is low, and the strong low point is $ 0.262 with a 1 day 200 EMA. According to science, these areas provide good opportunities for the accumulation of spots. As long as Doge is kept above these levels, he is still optimistic, warning that the approximation of 200 EMA below one day will be the only real drop signal.
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At present, dog currency is still at the critical point. If it maintains support and breaks a higher situation, a strong rally can be made. However, if the price cannot maintain a critical level, it may be further disadvantages. Investors and traders are closely monitoring whether the merger stage will become the next major upward trend of DOGE.
Price action details: key level
Dogecoin has experienced the number of days of sales pressure and negative market emotions. The current transaction price is $ 0.32. Since January 18 highs 0.43 U.S. dollars, the cause coins have been working hard to restore the momentum of watching up. Now DOGE is at a critical level, and the bull must intervene to prevent further shortcomings.
In order to keep Doge in a strong position, the price must exceed $ 0.30. In the past, this psychological level has always been a key demand area, and losing it may lead to update. If the Bulls can support support at this level, the next major challenge will be to recover $ 0.35. Breakthroughs beyond this resistance can restart the driving force of bullishness and laid the foundation for strong recovery.
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However, failure to defend the level of $ 0.30 may be exposed to further decrease. In this case, the next main demand area is about $ 0.25, a 20 % decrease from the current level. This level is also consistent with 200 EMA a day, which has always been strong support in history. If the DOGE decreases so low, it may trigger the accumulation of increased, but at present, all eyes are still in the ability to hold more than $ 0.30.
Featured images from Dall-E, chart of tradingView
