Dogecoin’s price action has been under intense pressure After another $ 0.175 support level failed to hold, which led to a decline to a crucial zone. The latest daily light closed with a lower Veke after a recovery from $ 0.143 level, but technical analysis of the Dogecoin price warns there there can still be more volatility.
Despite a temporary recovery over the past 24 hours from $ 0.143, there are remaining risks for a different decline. Noteworthy noted crypto analysts Tardigrade in an analysis that there is still more work to be done to do Dogecoin price change.
Price rejection to $ 0.143: Temporary recovery or weak recovery?
Crypto analyst Dealer tardigrade marked Dogecoin’s interaction with the level of support of $ 0.143 and noted that the daily light formed a lower Veke of $ 0.14297 before bouncing. This development suggests that buyers entered this price level to prevent more degradation. Tardigrade, however, warned that this price repellent alone is not a confirmation of a long -term recovery. The market can still see further tests of this level, potentially with a possible short degradation before any meaningful upward can take place.
The last decline follows a previous warning from Tardigrade, which had identified $ 0.143 and $ 0.128 when reversal levels after Dogecoin closed below $ 0.175. When this support was lost, sellers received the control and pushed the price down. Although Dogecoin has managed to keep $ 0.143 at the moment, the marketing entry remains fragile in the Fear Zone, and it is not yet clear if the latest bounce has enough strength to lead to a reversal or if more disadvantage is forward in the coming days.
More manipulation of Dogecoin Price before a real reversal?
Dogecoin has been caught in a persistent downward trend over the past two weeks and mirrors wider weakness seen over the crypto market. This continued decline has resulted in the leading MEME coin losing several key support levels in rapid succession, which mainly deleted most of its price gains during the last quarter of 2024.
Investors are Currently rolling back On their investments in Doge, although it has become known as the choice for retail investors compared to bitcoin and other major markets for cryptocorate. According to the data on the chain, Investors’ feeling around Dogecoin is at its most negative level of -0.93 in over a year.
Tardiga’s analysis indicates that Dogecoin can still experience price manipulation in the form of a short dip below $ 0.143 before he recovers. “Price discharge is just the first early sign of reversal. We still have to monitor the price measure, ”he said.
This view looks like the one from another crypto analyst that noted the DODECOIN Can reach as low as $ 0.12 in the current trend before it undergoes any major hausse reverse.
At the time of writing, Dogge is traded at $ 0.1702, fluctuates within a tight interval between 0.1624 and $ 0.1726 over the past 24 hours.
Image from iStock, chart from tradingview.com
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