Is The Dogecoin Bottom In? Confluence Of Signals Says Yes 🐶
Dogecoin's daily chart displays a confluence of classical support signals around $0.256–$0.265, suggesting a potential bottom. Analyst Cantonese Cat highlights the "tweezer bottom," 0.382 Fibonacci retracement, and AVWAP indicating support.
The "tweezer bottom" formation signifies consecutive lows, indicating dip buyers' defense. The 0.382 Fibonacci retracement and AVWAP both align with these lows, strengthening this support level.
This technical convergence hints at a potential local bottom, with the next resistance at $0.30724. At press time, Dogecoin trades at $0.267.
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