Recently, the price of DOGE has continued to fall, attracting market attention. Crypto Assets analyst Kevin (@Kev_Capital_TA) pointed out in his latest analysis that the downward trend of DOGE may not be over yet, and the worst case might still be ahead.
Kevin mentioned the head and shoulders pattern that formed a few weeks ago, emphasizing that this pattern is approaching its target area in technical analysis. He explained: "The orange circle represents the range that the measured move could reach, and the precise target for the measured move is the 0.786 Fibonacci retracement level, which is $0.119."
The price level of $0.119 aligns with other important technical support levels and could become a key point in the DOGE price structure. Kevin stated: "The head and shoulders pattern I pointed out earlier has almost reached its expected target range. Some daily indicators are also beginning to enter the oscillation range."
In addition to the head and shoulders pattern, Kevin also emphasized several other important technical indicators, including the weekly 200-day Simple Moving Average (SMA) and Exponential Moving Average (EMA), as well as the macro 0.382 Fibonacci retracement level and long-term downtrend line. The convergence of these indicators may provide key support for DOGE.
It is worth noting that Kevin advises investors to closely follow the market dominance of Bitcoin (BTC) and Tether (USDT) for more confirmation signals regarding market direction. His analysis reminds investors that although certain technical indicators are starting to show oscillation signs, the overall market trend should still be approached with caution.
In the current market environment, investors should remain vigilant and closely follow various technical indicators and market trends. The future trend of DOGE not only depends on its own technical aspects but is also closely related to the overall health of the Crypto Assets market. Before making any investment decisions, one should fully consider market risks and conduct thorough research and analysis.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Recently, the price of DOGE has continued to fall, attracting market attention. Crypto Assets analyst Kevin (@Kev_Capital_TA) pointed out in his latest analysis that the downward trend of DOGE may not be over yet, and the worst case might still be ahead.
Kevin mentioned the head and shoulders pattern that formed a few weeks ago, emphasizing that this pattern is approaching its target area in technical analysis. He explained: "The orange circle represents the range that the measured move could reach, and the precise target for the measured move is the 0.786 Fibonacci retracement level, which is $0.119."
The price level of $0.119 aligns with other important technical support levels and could become a key point in the DOGE price structure. Kevin stated: "The head and shoulders pattern I pointed out earlier has almost reached its expected target range. Some daily indicators are also beginning to enter the oscillation range."
In addition to the head and shoulders pattern, Kevin also emphasized several other important technical indicators, including the weekly 200-day Simple Moving Average (SMA) and Exponential Moving Average (EMA), as well as the macro 0.382 Fibonacci retracement level and long-term downtrend line. The convergence of these indicators may provide key support for DOGE.
It is worth noting that Kevin advises investors to closely follow the market dominance of Bitcoin (BTC) and Tether (USDT) for more confirmation signals regarding market direction. His analysis reminds investors that although certain technical indicators are starting to show oscillation signs, the overall market trend should still be approached with caution.
In the current market environment, investors should remain vigilant and closely follow various technical indicators and market trends. The future trend of DOGE not only depends on its own technical aspects but is also closely related to the overall health of the Crypto Assets market. Before making any investment decisions, one should fully consider market risks and conduct thorough research and analysis.