Dogecoin has seen the last prices Mimi currency Trading in a narrow range Less than the resistance area, currently hovering between $ 0.21 and $ 0.26. Over the past week, the MIM currency has been disabled at a resistance level of about $ 0.25, which threatens to send it down.
Interestingly, technical analysis indicates that Dogecoin can test more shaking before moving in the end.
The analyst expects to be shaken to $ 0.21 before the outbreak of $ 0.4
According to the technical analyst Tardigrade, Who participated in a collapse From the daily Dogecoin diagram on the X social media platform, Meme’s current coin is currently the second station of the Standardization of two parts. It is worth noting that the graph determines a possible scenario, as the price is subject to a short -term decline towards a region of $ 0.21 Before resuming the upward trend.
This structure, which includes a A summary re -test of support is about 0.21 dollars after a previous gathering in May, consistent with Shakeout styles designed to remove weak hands before the next ups.
The graphic fee below reveals a rise in the first completed stage of its lowest level in April to the current price range, followed by the beginning of the second station correction. The analyst expects this leg to go deep with about $ 0.21 again before Dogecoin acquires a force to try to collapse through public resistance that exceeds $ 0.25. If this step succeeds, the next targeted logical price, according to Trader Tardigrade, sits about $ 0.4. A level has not seen since January 2025.
Examine the resistance area between $ 0.24 to $ 0.25
The resistance area represents about $ 0.25, which is highlighted in the above chart with a thick horizontal red strip, the reactive reaction space that turned into the resistance. It is worth noting that this level was spent at the level of support during the first decrease in Dogecoin in February, before it was ultimately moved due to the intense pressure pressure at that time. On this collapse, the market structure, convert what was a safety network into resistance.
Now, with DOGECOIN attempts to recover from its lowest level in April, $ 0.13, this area of $ 0.25 has appeared as the main barrier hinders its continued gathering, with multiple rejection operations inside the day near this level in recent weeks. The penetration of this resistance area also depends largely The broader encryption market And the flows in the industry. However, until there is this confirmation, the technical analysis made by Trader Tardigrade indicates cautious expectations for daytime merchants, especially given the possibility of an entry to $ 0.21.
At the time of writing this report, Dogecoin is traded at $ 0.2279, an increase of 2 % over the past 24 hours, after recently reached the lowest level of the day at $ 0.2174. Should the bullish scenario play this level, Air about $ 0.40 It would represent a great profit of 85 % of the current price of Dogecoin.
Distinctive image from Getty Images, Chart from TradingView.com
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