DOGECOIN (DOGE) could go towards a drop in prices as the signs of a death cross emerge on its cards. This bearish scheme occurs when a short -term mobile average falls below one in the long term. In the case of Doge, its 23 -day and 200 days mobile averages are about to cross, which raises concerns about a potential sale.
If this lowering scenario takes place, DOGE could drop from $ 26% to $ 0.18, its nearest level of support. The worst case could see DOGE revisiting $ 0.13, marking a 40% drop in recent prices and a 72% drop in its local summit.
However, markets are often in advance in these technical indicators. If this is the case, the death cross could report a low price, trapping the lowering traders. Some analysts suggest that DOGE could stabilize or even bounce after the crossing.
Despite this uncertainty, Dogecoin remains the most popular cryptocurrency, continuing to attract media threw. With speculation around a major partnership announcement in March, the medal can still resume momentum. In addition, its connection with the Lunar Mission of SpaceX maintains it under the spotlight, fueling optimism for a future rally.
For the moment, DOGE merchants should remain cautious, looking closely at the prices. Although the death cross is generally a lower signal, the feeling of the market and the external factors could still push Dogecoin in unexpected directions.
As the parts market even evolves, Doge’s future will depend on the feeling of investors, wider cryptography trends and future developments. Stay listening for other updates on Dogecoin price movements.