Dogecoin May Face An ‘Ugly’ Drop Before The Weekend: Analyst
Carlos Garcia Tapia, an encrypted analyst, warned the potential disadvantages of Dogecoin in a four -hour chart in a four -hour chart for the Governor/USDT transaction. Tapia warned: “If the bear breaks this mode, it will become ugly … especially from the weekend.”
Dogecoin’s price collapse is coming?
His chart Publish A rising wedge -shaped layer was depicted through X, incorporating the resistance at the resistance between 0.338 and 0.343 US dollars, and a famous support area appeared in a $ 0.31 area.
The chart highlights a higher low (labeled “LL” on the chart), forming the lower boundary of the rising wedge. At the same time, viaduct resistance (about $ 0.338 to 0.343 rectangular areas) has repeatedly restricted price increases. This wedge seems to be compressed price operation-usually a setting Major breakthrough or collapseEssence
The horizontal resistance area of about $ 0.34 is very prominent. The price of Doge tries to exceed the short -term movement of this level, but failed to ensure the confirmation breakthrough, which shows that the seller resolutely defends the area.
Related reading
The unfavorable side is that a green box that spans about $ 0.310 marks the area that has been obtained in history in history. Below this level, the chart quotes lower support marks, close to $ 0.262, indicating that if the wedge mode is decisive, it has greater potential decline.
Analysts specifically pointed out that the upcoming weekend is a pass. Historically, the low transaction volume on Saturday and Sunday will increase fluctuations. If Dogecoin fails to keep its upward trend line (currently about 0.328-$ 0.330) and the liquidity may be calculated, the price may quickly test the lower support volume, or if the selling momentum accelerates, it may quickly test it. Low support.
Related reading
Although the breakthrough of more than $ 0.343 may make the loser setting invalid, the warning records of Tapia emphasized the importance of potential subdivision in the wedge layer. The price action on weekends is usually different from the reduction of the weekly mode, which means that the sharp movement In any direction It may start faster than usual.
DOGE needs to hold $ 0.31
Daily chart supports Tapia papers. There, Dogecoin (Doge) found that it was in an intensified decline pressure because the price movement embraced the continuous decline line. After reaching the local high in December, Doge retreated the main index moving average (EMAS). 20 days EMA (currently about 0.3457 US dollars) and 50 -day EMA (nearly $ 0.3473) are bending lower, sending signals Short -term momentum weakenedEssence
A glance shows that Fibonacci, which is slightly higher than 0.382 now, is now at the level of shrinking, calculating $ 0.313. Since mid -December, this FIB zone has been the most critical support, but any decisive every day below can accelerate sales. Traders pay close attention to the 100 -day EMA (about $ 0.3179), which is sandwiched above the FIB level.
If the price fails to defend the region between $ 0.313 and $ 0.317, the eyes will turn to 200 days EMA at a price of about 0.2613 US dollars, as an important long -term support. If the disadvantages of this level are also broken, the 0.236 FIB $ 0.212 of 0.236 FIB may quickly become a reality.
Use the characteristic images created by Dall.e, the chart of tradingView.com
