This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline
December 19 2024 - 5:00PM
NEWSBTC
Two days ago, a crypto analyst accurately forecasted a Dogecoin
price crash, which has since taken place. According to the
analyst’s latest projections, Dogecoin is poised for a steeper
decline, with an anticipated 30% crash from its current trading
price. Analyst Forecasts 30% Price Crash The Dogecoin
price has crashed to $0.35, marking a substantial 14% decrease over
the past seven days. Earlier this month, Dogecoin was trading above
$0.4 after experiencing a sharp rise driven by the positive market
sentiment fueled by Donald Trump’s victory in the US Presidential
elections. Related Reading: Bitcoin Price Still Mirroring
Bullish Move From 2023, What To Expect After Hitting $108,000 ATH A
TradingView crypto analyst, known as the ‘MMBTrader’ who accurately
predicted Dogecoin’s recent price crash, has now updated his
forecasts to warn of further potential declines. The analyst shared
a chart, analyzing Dogecoin’s price action and potential future
movements. Currently trading above $0.3, the DOGE price is slowly
approaching a critical resistance, illuminated by the red zone at
the $0.438 level. The red arrow on the chart illustrates a
potential short-term correction, set to trigger a Dogecoin price
crash to the central support zone near the $0.25 mark. This
substantial price drop would indicate a 30% decline from Dogecoin’s
current price. Additionally, the analyst suggests that this
projected price crash is a retracement, aligning with 0.618, the
Fibonacci level indicated on the chart. The TradingView
analyst has also revealed that if the Dogecoin price can establish
strong support at the $0.25 level, it could confirm a bullish trend
continuation. Such a development could pave the way for a potential
Dogecoin price rally in the near term. Moving
ahead, the green arrows in the analyst’s DOGE price chart represent
the next potential phase pump. The analyst has predicted that a
solid rebound from the $0.25 support level could trigger a new
bullish phase for Dogecoin. Additionally, he projects a new bullish
target towards the $0.75 area for Dogecoin, marking a significant
leap to new price highs. Overall, the TradingView analyst has
pinpointed $0.45 as the level to watch out for. Although a drop to
$0.25 would mark a 30% crash for Dogecoin, a potential surge to
$0.75 would represent a 115% price increase. Dogecoin Price
Breakout To $1 Sighted While Dogecoin faces volatility and
declines, Trader Tardigrade, a prominent crypto analyst, has
expressed confidence regarding the meme coin’s potential shift to
the upside. According to the analyst, Dogecoin is currently moving
in a defined range between $0.33 and $0.49, highlighted by the
purple rectangle in the price chart. Related Reading: XRP
Price Ready To Run To $11 ATH? Alternative Larger Metrics Show The
Answer Looking at the chart, this range represents a period of
consolidation during which the price of Dogecoin appears to
fluctuate between resistance and support zones. The analyst has
depicted that a breakout above the range’s upper boundary could
continue Dogecoin’s rally to new all-time highs at $1.05.
Featured image created with Dall.E, chart from Tradingview.com
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