Dogecoin Price Tests Panic Zone At $0.21, Breakdown Could Lead To Price Crash 📉
Dogecoin is experiencing selling pressure, risking a breakdown if it drops below a critical support level at $0.214, as highlighted by analyst RLinda on TradingView. A breach of $0.2135 support could lead to intensified selling pressure and a potential price crash.
Dogecoin's bearish trend follows a distribution phase that ended in early May, characterized by a steady price decline and lower highs. A descending triangle pattern has emerged on the 2-hour chart, indicating potential further downside if resistance at $0.222 and $0.2307 is not reclaimed.
RLinda advises closely watching support levels at $0.2145 and $0.2135, as a breach would confirm the downtrend, pushing prices towards $0.20 or lower. Despite a slight recent recovery, buyer momentum must continue for a bullish reversal to develop.
Source: www.newsbtc.com ↗
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