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Dogecoin (DOGE) Price Could Dip Further, Expert Warns: Here’s Why
- Dogecoin (DOGE) remains in a weekly downtrend with resistance near $0.22 and $0.20.
- Analysts observe a potential double bottom forming near $0.13, signaling a possible trend reversal.
- Increased daily volume, up 66%, indicates growing investor interest at current support levels.
- To confirm a reversal, DOGE needs to reclaim $0.20, while a breakdown could lead to a drop to $0.13.
- Chart analysis by Cantonese Cat shows a consistent downtrend, emphasizing lower highs and lower lows.
- A double bottom pattern near $0.13 suggests exhaustion in selling pressure and a potential shift in momentum.
- BitGuru notes failed momentum sustenance post-recovery, with resistance at $0.22588 and $0.20696.
- DOGE is revisiting a crucial $0.17000 support zone, determining future bullish defense at current levels.
- Dogecoin is currently trading at $0.1793, reflecting a 4.17% decrease in the last 24 hours.
- Despite a 1.50% weekly loss, 24-hour trading volume surged by 66.20%, exceeding $2 billion.
- Investor attention is on DOGE as it approaches a decision point, with high intraday volatility between $0.1713 and $0.1899.
- Support at $0.17 is critical, indicating potential price movement towards $0.13 on a breakdown or recovery above $0.20.
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