Dogecoin (DOGE) Price Prepares for Correction

Dogecoin (DOGE) price seems to be failing to hold any significant support. Dogecoin price is currently the biggest drop since May 2021 Ichimoku located in. Also, the bears remain below and look for opportunities to push DOGE price down to the $0.18 value area.

DOGE price coming soon $0.18Looks like I’ll test it. If the $0.18 support level is rejected, the price could see a shock drop and value $0.08It can regress to .

dogecoin price, Ichimoku Kinko Hyo When examined with the system, it seems to have decreased considerably. The fact that all the criteria for bears to dominate the market were met, created a panic in the markets.

DOGE buyers will need to defend the $0.18 support line well to avoid a possible ‘flash drop’. The large, red shaded area on the chart represents price levels between $0.18 and $0.08. Between these two price levels, the “2021 Volume Profile” is hardly visible. This could be an indication that if the price drops below $0.18, it is likely to result in a shock effect and a pullback to $0.08.

However DOGE It had managed to trap the bears, so to speak, after having previously formed a serious bearish position. So, although the Relative Strength Index and Composite Index suggest that some bearish pressure may continue, Optex Bands oscillatoris a critical tool to monitor.

Optex Bands are currently trading just slightly above the extremely oversold levels, which is a key sign that a bounce could be coming at any time.

For the bulls to invalidate any near-term or future bearish forecasts Dogecoin priceThey will need to turn off the Ichimoku Cloud above it. Ideally, buyers might need to close Dogecoin at or above $0.28. If that happens, Dogecoin is with a possible target in the $0.50 value area. Ideal Taurus Ichimoku Breakout It will move towards the entrance.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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