Lokesh Gupta
02-05-2024
#Dogecoin price closed below $0.150, signaling a short-term bearish trend in line with Bitcoin and Ethereum.
#Dogecoin faced losses, dropping below $0.1350 against the US Dollar and is now testing a critical support level at $0.1200.
Despite a slight rebound above $0.1250, progress was hindered by resistance at $0.130.
Historical data shows Dogecoin breaking out from descending triangle patterns in 2017 and 2021, with retracements of 40% and 56%, respectively.
In 2024, $DOGE experienced a 47% correction after breaking out from a descending triangle, resembling past cycles.
There's speculation that Dogecoin could potentially approach $1.00 in the future if historical trends repeat.
According to Coingabbar Price Analysis, Failure to breach $0.1350 resistance may trigger further decline. Initial supports: $0.1220, then $0.120 and $0.1040.
KEY LEVELS :
RESISTANCE LEVEL : $0.17000-$0.23000
SUPPORT LEVEL : $0.09000-$0.05000
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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