Tag: drop

Dogecoin currently quotes in a descending wedge, pointing to a break above $ 0.219.

A closure above USD 0.22378 could indicate a change of upward trend.

On-chain activity is increasing, promoting long-term bullish perspectives.

Dogecoin (Doge) has experienced notable turbulence during the last week, with the popular meme currency losing more than 11% of its value amid a broader market volatility.

Although short -term losses have caused concern among retail traders, technical analysts and blockchain activity suggest that Doge may be positioning for a much greater movement.

Doge Price Analysis

In recent days, Dogecoin has fallen from a local maximum of $ 0.25 to around the mark of 0.2161 dollars, which reflects a strong setback after a sustained rebound earlier this month.

Despite the apparent weakness, this descent has not invalidated the widest upward structure that analysts have been following in recent months.

According to the four -hour graph, Doge currently trades within a defined descending wedge pattern, which is considered widely as a bullish formation when confirmed with a break.

Highlighting this configuration, an X analyst has indicated that the Dogecoin price has compressed between a descending resistance near USD 0.219 and a support just above USD 0.212, forming an adjustment range.

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4h $ Doge FW pic.twitter.com/abcf1y5jao

– #333kbyjuly2025 (@carpenoctom) May 17, 2025

The analyst’s graph also points to the metric of Ichimoku Cloud that show the price floating within the equilibrium zone, which suggests that the current pause can precede a larger directional movement.

The high confluence support zone between USD 0.212 and USD 0.214, reinforced by the Ichimoku Span B, has already caused intradic rebounds, hinting at a strong interest of buyers close to that level.

Meanwhile, the resistance at the upper limit of the wedge coincides with the Kijun-sen (baseline) around USD 0.225, creating a well-defined roof that must be broken so that the bullish impulse resumes.

Dogecoin price perspective

If Dogecoin achieves a four -hour decisive closure above 0.219 dollars, Ali Martínez believes that the currency could quickly point to the previous offer zone between 0.24 and 0.26 dollars.

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This is a Major Area of ​​Resistance for #DEGOIN $ Doge. Breakout Here Could Spark a New Bull Run!

Don’s Wait for the Breakout; INSERED, PREPARE FOR IT! Go to @coinexcomSign Up Using My Referral Link https://t.co/73n8mw9y5pand Join me in This Trade. pic.twitter.com/yh52WFBHQT

– Ali (@ali_charts) May 15, 2025

However, a break below the USD 0.205 support level would probably open the door to more pronounced falls, which could visit the minimum of the April pivot near USD 0.185.

From a medium -term perspective, Dogecoin’s weekly chart paints a more optimistic panorama, especially because the Token closed recently above the support band of the upward market.

This band, defined by the simple 20 -week mobile average and a two -SIGMA envelope, has acted as an important barrier since the beginning of February, with the recent price action by making it provisional support.

The Cantonese Cat has emphasized The importance of this rupture, arguing that a second consecutive weekly closure above USD 0.22378 would confirm a broader trend change.

Despite the setback from USD 0.25, the midline of the Bollinger bands, which overlaps with the upward market support band, remains the main pivot point for sustained bullish monitoring.

Adding more weight to this perspective, long -term graphic patterns suggest that Dogecoin has already completed a break over a descending resistance of several years in late 2023.

According to the analyst Javon Marks, this structural change, marked by higher and higher minimums, confirms an upward reversal of the prolonged bearish market that began after its 2021 peak.

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$ Doge and A +174% Climb to ITS First Target at $ 0.6533 Continue to Be in The Cards 🃏… https://t.co/7jt82s0jly

– Javon⚡️Marks (@javontm1) May 18, 2025

Marks also noted that the recent correction found support in USD 0.16, establishing a higher minimum that reinforces the arguments in favor of a continuous upward trend.

On the basis of these events, Marks has maintained an objective price of 0.6533 dollars, which represents a potential increase of 174% from the current levels.

He also noted that Dogecoin could eventually visit its previous historical maximum of USD 0.74 and even extend the profits to USD 1.25 if the impulse is accumulated and improves the feeling of the market.

Even so, there is another layer of resistance between USD 0.25 and USD 0.26, an area that has constantly limited the price of Dogecoin since December 2024, according to analyst Ali Martínez.

The repeated failures in overcoming this level at the beginning of the year underline the importance of a confirmed movement over it so that any sustained upward movement strengthens.

While the technical panorama remains mixed in the short term, Dogecoin on-chain data add another upward signal to the general perspectives.

The Blockchain Intotheblock analysis platform reported an increase in user participation, with an increase in new addresses of more than 102% and active addresses of more than 111% in just one week.

In addition, the zero balance addresses, often associated with an increase in billing and a new activity, increased by more than 155%, reflecting the renewed interest of both operators and occasional users.

This resurgence of the network activity coincides with a broader rebound in the market and suggests that the recent fallcoin price drop may not reflect the weakening of the foundations.

In the event that the price exceeds the resistance areas of USD 0.219 and USD 0.26, it could trigger the next great rebound towards the objective of USD 0.65 described by bullish analysts.

But until then, both traders and long -term holders will be closely observing the key levels of support and resistance, waiting for the signal that confirms the next important Dogecoin movement.