Dogecoin is looking for direction by clinging at fibonacci support levels. Technical indicators show that the price will either enter a new upward trend or experience a deeper correction. The short -term movement of Doge will depend on critical support and resistance levels.
Dogecoin Price Analysis: Consolidation Continues
Dogecoin (Doge) increased to $ 0.48 at the end of 2024, then withdrawn and entered the wave 4 consolidation. On December 20, the price fell to $ 0.25, but recovered and made a daily closing over $ 0.30.
This level stands out as a strong field of support for Doge. If the price continues to remain above $ 0.30, the bull appearance can be maintained. However, if a downward movement occurs, Dogge can be expected to re -test the support levels.
Elliott wave structure supports the bull scenario
According to Doge’s Elliott wave theory, the price is currently in wave 4. In this process, $ 0.37 stands out as an important resistance point. If a strong break occurs above this level, the price is expected to rise up to $ 0.42.
On the other hand, if Doge loses $ 0.33 support, sales pressure may increase and the price may be withdrawn to $ 0.30. Going below this level shows that the bull scenario may be invalid and the price may fall to $ 0.26.
Critical levels for Dogecoin
The level of $ 0.34 will be decisive for Doge’s short -term price movements. If the price exceeds this level, the bull trend may be strengthened and the price may be possible to rise to $ 0.42.
However, if DEP is descended below $ 0.30, the price may decrease to $ 0.26 and extend the consolidation process.
Expected Scenarios in Dogge
The Dogecoin price movement is currently in a critical turning point. If it closes over $ 0.34, it can gain upward acceleration and start a new upward trend. However, going below DEGE $ 0.30 will increase the risk of a larger correction.
The general tendency of the market and the buyer interest will determine Dogan’s price movements. In the coming days, the levels of 0.34 and $ 0.30 should be followed carefully by investors.
Levels to be followed
- Instant resistance:$ 0.34 (0.618 fibonacci retreat)
- Basic Support:$ 0.30 (0.786 Fibonacci withdrawal)
- Critical Support:$ 0.26 (1.0 fibonacci withdrawal)
- Short -term target:Rise over $ 0.42
- ENVIRONMENT SCENARYO:A decrease below $ 0.30 has a risk of further fall.
