The crypto market is down with Bitcoin dropping to $88,000, causing selling across other coins. Dogecoin’s price is at a critical point. Analyst Ali warns that if DOGE falls below $0.19, it might drop to $0.06.
Dogecoin has been moving in an upward channel for almost ten years, with lines that mark where prices tend to stop falling or rising. The $0.19 level is important now and matches up with a technical measurement called the 0.618 Fibonacci level. This area has historically provided support during market corrections.
Despite previous attempts to push higher, DOGE’s price failed to sustain momentum at nearly $0.50, leading to a rejection from upper trendline resistance. If buyers fail to defend the current range, analysts suggest a potential 70% decline toward $0.06, a price point that aligns with lower Fibonacci levels and previous accumulation phases.
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Crypto Analyst Warns of Deeper Correction
Popular analyst Ali shared his insight on X (formerly Twitter), stating:
“If #Dogecoin $DOGE drops below $0.19, the probability of a deeper correction toward $0.060 significantly increases!”
Ali’s warning matches what’s happened before – when Dogecoin broke below support in the past, prices fell for a long time.The presence of parallel trendlines and Fibonacci levels further supports the possibility of an extended downside if DOGE’s price fails to hold its range.
Read Also: We Asked AI to Predict XRP Price if Bitcoin Crashes to $80k
Dogecoin Market Conditions Add Selling Pressure
The whole crypto market is struggling as Bitcoin’s price drop causes many forced sales. With Bitcoin at $88,000, many smaller coins, including DOGE, are looking weak. Traders are being careful, watching to see if DOGE can stay above its current price or fall further.
If Dogecoin’s price stays above $0.19, it might stabilize and possibly climb toward $0.50. But if it breaks down, more selling could push it toward $0.06. The next few days will show whether buyers can protect this level or if prices will keep falling.
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