Dogecoin crashes below $ 0.24 and marks ventilation of the triangle. Will the overvoltage of the offer plunge prices from Doges less than $ 0.20?
In the middle of the sudden push of the lowering feeling on the cryptography market, Mastiff marks a gathering of breakdown. Grusting as part of the crucial level of support of $ 0.24, the Doge prices trend brings a downward conclusion to the descending triangle model.
With the drop in prices, the Dogecoin network attends a sharp drop in activity. Is Dogecoin about to crash under the psychological support of $ 0.20?
Dogecoin confirms the ventilation of the triangle
In the 4 -hour price table, Dogecoin revealed a strong line of resistance trend, keeping the downward lower trend. With multiple general resistances, Dogecoin finally broke as part of the support level of $ 0.2341.
With a new hollow of 7 days to 0.22644 $, Dogecoin marked a ventilation of descending triangle model. In the middle of the increase in sales pressure, the MacD and signal lines witnessed a sharp drop with a wave of negative histograms.
Consequently, the momentum indicator suggests an increase in the bearish momentum. Depending on the pivot levels, the price of the memes part is suspended at the S1 support pivot level at $ 0.22836, with a 4 -hour candle near the S1 support level.
The fall should potentially continue to support S3 at $ 0.19,19,361. This will mark an accident and bring Dogecoin back under the psychological brand of $ 0.20 after a bullish momentum of two months.
The activity of the network falls: a sign of weakening of demand?
Supporting the decreasing scenario, the Crypto Ali Martinez analyst stresses that the activity of the Dogecoin network has fallen to its lowest level for months, reaching figures not seen since October 2024.
There was only 66 whale transactionsWith less than 60,000 active addresses per day.
While network activity slows down, market prices should decrease due to the drop in demand on the network.
Haders Haussiers: could Dogi stage another explosive rally?
Despite the technical signals indicating an opportunity for sale, some traders remain optimistic. According to Delay Tardigrade, analyst on X, Dogecoin ends his fourth falling corner scheme.
The first escape resulted in an increase of 88% in the last quarter of 2023. The second corner escape in early November experienced a price of 208%. Finally, the third corner escape in the last quarter of 2024 resulted in an increase of 445%, propelling Dogecoin almost $ 0.50.
Currently, Dogecoin is at the crucial level of support of the fourth falling corner scheme. If this model takes place as expected, an escape could trigger a significant rally, potentially pushing Dogecoin beyond the $ 0.50 bar.
Difles: This content is informative and should not be considered financial advice. The opinions expressed in this article may include the author’s personal opinions and do not reflect the basic opinion of cryptography. Readers are encouraged to do in -depth research before making investment decisions. The Crypto Basic is not responsible for financial losses.