Dogecoin Price Tests Panic Zone At $0.21, Breakdown Could Lead To Price Crash 🐶
Dogecoin is under selling pressure, losing bullish momentum from late April and early May. It teeters above a key support level, meaning risk of a downtrend. Crypto analyst RLinda highlights $0.214 as the panic zone on TradingView. If breakdowns occur under $0.2135, selling could intensify, possibly causing a crash.
The correction phase has featured lower highs forming a triangle pattern. A triangle base break could boost bearish sentiment, targeting $0.20 or less. Immediate resistance is at $0.222 to $0.2307, necessary for bullish sentiment return. Current trading is at $0.22, a slight recovery, but insufficient for a bullish reversal.
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