- A fall below the $0.129 support level would raise concerns.
- The DOGE price might fall to $0.080 if there is an increase in selling pressure.
Since last week, Dogecoin’s price has surged to new highs, enabling it to amass liquidity. The predicted correction will offer bulls time to recharge for the next rise in DOGE’s price. The price of Dogecoin increased by 36% in the space of two weeks, reaching a high of $0.173. As investors continue to make gains, DOGE is likely to retrace.
A 10% decline to the 70.5 percent Fibonacci retracement level of $0.139 becomes conceivable. For the time being, purchasers may get together and provide a platform for DOGE to take flight. If the current upward trend continues, it is expected that it will break past the $0.163 weekly resistance level and proceed to the next obstacle at $0.194.
Read More: Dogecoin Price Prediction
Potential Buyers Await Entry
It is expected for market makers to prolong this run-up above $0.215 and collect the buy-stop liquidity that is now lying above the triple top formation. The next local high will most likely be formed if this move goes through at a 55 percent gain. A fall below the $0.129 support level would raise concerns among potential purchasers who have been waiting to buy Dogecoin.
The Dogecoin price might fall to as low as $0.080 if there is an increase in selling pressure in this region. Coin prices would fall back to the $0.43 level if sellers exerted sufficient supply pressure at the $0.16 level. As long as the bears continue to sell on rallies, this might signal the beginning of a catastrophic slump.
According to CoinMarketCap, the Dogecoin price today is $0.157509 USD with a 24-hour trading volume of $870,472,694 USD. Dogecoin is up 0.38% in the last 24 hours.
