Dogecoin Must Hold This Level—Or Risk A 30% Price Crash 🐕
Dogecoin's survival depends on maintaining a level above $0.168, or it risks a 30% price drop. Analyst Ali Martinez emphasizes this as the memecoin trades within a Symmetrical Triangle pattern.
Dogecoin has been consolidating within this triangular channel, with trendlines converging, indicating volatile moves could occur soon. Breakouts in such patterns can signal a trend's continuation, either bullish or bearish.
Currently, Dogecoin nears the triangle's end, retesting the lower line, with a rebound possibility still present. Should a bearish breakout happen, Dogecoin faces further challenges near the 0.786 Fibonacci Retracement level.
At the moment, Dogecoin trades around $0.177, reflecting a 4% decrease over the past week.
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