The price of Dogecoin (DOGE) has been one of those that have taken the hardest hits during recent market downturns, even though Bitcoin (BTC) remains close to its all-time highs.
Currently, DOGE has fallen below the support of $0.20, a clear signal that bearish traders are back in control.
The situation is becoming precarious: the well-known “meme coin” now stands on a razor’s edge. A crucial level of support looms ahead – if it can’t be held, the risk of a heavy fall is quite real.
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Dogecoin resta in fase rialzista, ma deve difendere trendline e supporti chiave
According to the cryptocurrency analyst Lingrid, the price of Dogecoin is currently in a critical zone, with certain levels that could potentially make all the difference for the future of the meme coin.
Currently, the correction seems to be following a typical corrective pattern in markets known as “ABC”. However, this downward movement appears to be losing strength. Despite this, the bearish trend managed to push the price below $0.20, exerting pressure on the bullish structure’s integrity.
According to analyst Lingrid, despite the recent drop, Dogecoin’s price still shows an uptrend structure. This is because the crypto marked a “rising bottom” – a positive signal – right at the support of the rising channel.
Highlighting the significance of the range between $0.188 and $0.190: As long as Dogecoin remains above this area, the positive trend remains intact. Moreover, the technical structure remains strong: the price is still above both the trendline and the support block, two crucial elements for those looking at the medium to long-term perspective.
Now, the real challenge lies entirely in the hands of buyers: if they want to keep the recovery phase alive, they must regain control from the sellers.
According to my analysis, there seem to be interesting buying zones between $0.187 and $0.19, with the price of Dogecoin currently right in the midst of this critical area, making it an intriguing opportunity for potential investments.
To confirm a true comeback, bulls (the buyers) should manage to push the price above the $0.195 mark with a strong confirmation, after which the goal would be set directly towards $0.215.
If Dogecoin were to drop below its rising minimum, that is, below $0.187, this analyst considers it a clear sell signal. Moreover, if the price continues to stay under $0.195 without successfully breaking through an upward trend, the consolidation phase might further slow down the breakout.
A drop in Bitcoin’s price could weaken the positive outlook that has been built so far for Dogecoin.
If Bitcoin’s price decreases, it may negatively affect the good things that have happened to Dogecoin so far.
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Dogecoin continua a mostrare una forte zona di supporto
crypto analyst Stanley Crypto affirms that Dogecoin is finding a good level of support, despite its flat trend over the past few hours.
As Lingrid highlights, Stanley emphasizes the significance of the range between approximately $0.18 and $0.19, referring to it as the “strongest support zone” at this moment. This is where the game is being played: the price seems to have stabilized here, and many investors are closely watching to see if this base can hold up.
The buyers must hold their ground at this level if they want the trend to keep rising.)
Come conclude Stanley:
As a crypto investor, the current setup seems to suggest an potential uptrend with progressively higher highs. However, if the price breaks down below the support, everything could unravel.
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2025-06-02 09:59