Dogecoin price movements were the Subject of many speculations In recent months by various Crypto analysts, with numerous analyzes based on its model repetition in market cycles. A recent analysis published on the TradingView platform is deeply immersed in the technical perspectives of Dogecoin with indicators such as fibonacci levels, the theory of Elliott waves and the Wyckoff method to predict the downward price objectives and increase for cryptocurrency.
Macro analysis: Elliott Waves and Fibonacci levels show liquidity areas
According to the analyst, The price of Dogecoin followed a clear Structure of Elliott waves From its bear tray of $ 0.045 in 2022 until its recent multi -year peak of $ 0.48 in December 2024. Made interesting, this projection suggests that the five pulse waves have already been completed, and the next step is the training of ABC corrective waves. Waves A and B have already played, Leave the C. C to complete the structure And create the last corrective wave of the pattern.
With this correction in mind, the analyst used fibonacci levels for additional information on how it takes place. Using a retraction of fibonacci based on trends, the analyst predicted that Dogecoin could go back to $ 0.213 because the price mark aligns well with the level of FIB retracement of 0.382 compared to his recent peak in December .

Likewise, 0.618 Fibonacci retracement level, Calculated from the 4 low wave at the 5 wave peak suggests a target of $ 0.235. A green box area between these two levels is highlighted as the probable liquidity zone before the next bullish leg.
The correction, if this happens, does not necessarily spend the destination of Dogecoin. Indeed, the memes piece has always revisited the level of 0.382 during the market cycles passed before exceeding its peaks of all time. Consequently, a rehearsal of this behavior could open the way to another Dogecoin price rally over a longer time which will eventually exceed $ 0.73 and Define a new summit of all time.
Zoom on: Wyckoff phases and short -term prediction
When analyzing the action of current prices, the analyst identifies the Wyckoff # 2 distribution scheme as the dominant model for Dogecoin. This method separates market movements into phases (a to e) to predict pricing behavior. According to the analysis, Dogecoin transit through these phases and should enter into phase E by January 23, 2025.
A more in -depth examination of the 4 -hour graph reveals an ABC corrective motif, the C wave providing to reflect the extent of the decline of the A. The analyst calculates this fall as aligning perfectly with the objective of 0.382 Fibonacci at $ 0.213. Using additional fibonacci retractions and extensions, short -term support areas and resistance have been identified, further strengthening the liquidity zone from $ 0.213 to $ 0.235. With this, the analyst predicted a price of the Dogecoin price between January 30 and February 3, 2025, before he passed towards a bullish trend.
For the future, the analyst suggests that Dogecoin takes momentum for a significant ascending movement Once he finished his correction. In particular, the analyst predicted that Dogecoin would rebound and reach $ 1.9 once the correction is completed.
At the time of writing the editorial staff, Dogecoin is negotiated at $ 0.3577.
Adobe Stock star image, tradingView.com graphic