Dogcoin $0.169648 It is on the agenda with a significant price drop in recent weeks. Crypto currency cannot hold on the levels of resistance that it has been difficult to overcome for a long time, which shapes the expectations of investors. However, technical analyzes indicate that the potential for rise may come to the agenda if the price provides stability at the existing levels. According to analysts, the recovers to be experienced at certain support points are among the basic elements that will determine the direction of Dogecoin.
Price movement stuck at critical technical levels
When we look at the previous price movements, it is seen that Dogecoin has lost support at $ 0.180, $ 0.1750, $ 0.1720 and $ 0.1620. Although the breaks below these levels increase the pressure of the short -term seller, technical indicators do not ignore the possibility of holding the price around these points. In particular, Fibonacci retreat rates, 0.5 and 0.618 levels, are considered as critical thresholds in terms of re -upward acceleration of price movements.
Analysts say that a possible recovery in these technical regions may refresh the trust of investors. If the price can provide permanence at these levels, it seems possible that a “V” formation is possible after the previous decline trend. These formations had been a harbinger of paraboolic aspects for Dogecoin in the past. Crypto money market participants also consider that a similar scenario can be repeated.
Targets $ 2 and above are on the agenda
Some market analysts say that the price of Dogecoin can reach $ 2 in the short term. When technical formations are examined, experts argue that such an ascension is not unfounded, suggesting that the price has entered the low levels of accumulation and constitutes the ground of a strong movement. Analyst Tarder Tardigrade supports this assessment with the words, “If Dogge shows recovery at critical fibonacci levels, it may be possible”.
Those who make more ambitious estimates argue that in the long term Dogecoin can climb up to $ 5 levels. This view is supported not only by technical analysis, but also by potential macro developments. In particular, the steps that can increase the interest of corporate investor can make these estimates more realistic. In the assessment made by Dynamite Trade, “Dogecoin maintains its direction with a prominent support trend in the long run”.
The possibility of Dogecoin ETF and corporate effect
One of the most remarkable headings on the agenda of Dogecoin is a possible ETF approval. According to market experts, the approval of a stock market investment fund based on Dogecoin until the end of 2025 may lead to the fact that the asset becomes more attractive to corporate investors. Such a development may open the door to the evaluation of Dogecoin as an arranged investment tool.
The expectation of ETF approval creates a cautious optimism among investors. This possibility can make it easier for large capital groups to turn to Dogecoin. Increased demand may have a positive effect on the price directly. Technically, it is supported by past examples of sudden and strong rise in crypto currency prices after such developments.
Dgecoin’s progression by maintaining its current technical structure keeps the expectation of upward trend in the market alive. The protection of critical support points is interpreted as the signal of potential purchasing opportunities for investors.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
