Release: 2024/05/29 21:24 Reading: 826
Dogecoin Price Analysis: Key Resistance and Support Levels
Dogecoin is currently testing a crucial resistance range between $0.17000 and $0.17500. This follows a significant price correction of 47% from its peak of $0.22888, finding support at $0.12010.
On the daily chart, Dogecoin exhibits a triangle pattern, with an upper resistance trendline. The recovery rally since April's pullback has been contained within the 38.20% and 50% Fibonacci levels.
The breakout or breakdown of the triangle pattern will determine the future price trend. According to Coingabbar Price Analysis, a breakout could push Dogecoin towards $0.205, while a breakdown may lead to a retest of the support level at $0.128.
Key Levels:
Disclaimer: Coingabbar's guidance and market analysis are solely for informational purposes and should not be construed as financial advice. Users should conduct their research, exercise caution, and be aware of the risks associated with cryptocurrency investments. Coingabbar is not liable for any financial losses incurred. Cryptocurrency markets are volatile, and investors are advised to consult financial professionals and evaluate their risk tolerance before making investment decisions.
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