The cryptocurrency market was Subject of a larger saleAnd Dogecoin was not spared, its price recently falling at a three -month $ 0.20. Although there has been a slight recovery, concerns remain that the decline is not yet over. According to a crypto analyst known as David_Perk on TradingView, Dogecoin is still in a high downward trend, with indicators pointing to new losses that could see the meme piece crash at $ 0.15.
The low dececoin price and the risks of additional decline
The recent Dogecoin price crash was a very intimidating decision for bullish investors. However, the accident resulted in a rebound in $ 0.2 and now seems to stabilize at this level of support. Although it is a temporary slowdown in the crash, technical analysis shows that there is still a Risk of more inconvenience.
Crypto analyst David_perk, who shared his perspective On tradingview using the 12 -hour candlestick table, Dogecoin Candlestick maintains that the same room remains in a downward trend. According to the analysis, there is no clear sign of a bullish reversal at this stage, the action of prices continuing to reflect the sale pressure.
David_perk’s analysis suggests that DOGE is currently positioned inside A strong descending channel and approaches a critical daily trend line. In particular, this descending channel has been in training since the start of this year.
The loss of multiple levels of support further strengthens the argument that Dogecoin could go towards another leg down. Fibonacci trace levels and historic price data strengthen this downward perspective, the analyst predicting a minimum drop of 30% compared to current levels.
Another crash at $ 0.15 really happens?
According to the analyst, Dogecoin could continue to decrease until it is $ 0.15, based on historical data and fibonnacci levels. In particular, the recent plunge has erased a large part of the gains that the holders of DOCEBOT have accumulated since October 2024, and if the decline extends to $ 0.15, it would mark an almost total retirement of the rally which started to The end of last year. In particular, such a decision would mark a loss of 68% of the recent multi -year summit in Dogecoin in December from last year.
At the time of writing the time of writing, Dogecoin is negotiated at $ 0.21, up approximately 4.5% in the last 24 hours, but still down 16.5% within seven days. The only way To avoid such a decline At $ 0.15, it is if Doge Bulls can maintain a foot above the support at $ 0.20 and exceed $ 0.25. The fact of not exceeding $ 0.25 would keep Dogecoin trapped in his descending channel. The next thing in this case would be the creation of a lower hollow, which would ultimately result in an accident below $ 0.20.
Fortunately, Channel data show These long -term DOGE maintenance addresses are still in “Denail”, which is always a positive signal.
Medium star image, tradingView.com chart