An analyst sees Dogecoin at $ 0.06167 – others see the situation less negative
- Dogecoin risks a decrease of 59% to $ 0.06167 after broken an important trend line, whereby WAL activity increases the downward pressure.
- However, a positive RSI divergence indicates relaxation when the course stabilizes at $ 0.135. If not, there will be further loss.
Dogecoin is under pressure again, and analysts warn of the downturn. After the possible decline of 59%, Doge would be $ 0.06167 – another low of the past few months.
The current course situation has triggered concern among the dealers after Dogecoin has fallen under a trend line that had remained intact since 2018. Since technical and on-chain indicators are moving, analysts suspect that Dogecoin enters into a downward spiral that could continue if the plateau is broken through further support.
At the moment there is still a bear market, and there are whale activities in the chains that do not promise anything good for Dogecoin in the near future.
A long-time rising channel that had supported the Dogen course since 2018 ended in dead end, which suggests further losses. Technical analysts observed that this coincided with a rejection of the 0.786 Fibonacci retracement level at $ 0.16395.
#Dogecoin $DOGE is breaking out of an ascending parallel channel, signaling a potential move toward $0.060! pic.twitter.com/p4nclPILNr
— Ali (@ali_charts) April 7, 2025
All the individual instructions show the declining momentum and there could be a decline towards $ 0.06167, the next level of support on the chart.
This level coincides with the 0.618 Fibonacci retracement zone, which often offers strong support. In the past, it served as a consolidation zone, and analysts saw them as crucial for the further course – up or down.
A WAL also sent 300 million Doge to Binance, about $ 41.7 million. Such massive movements are usually associated with the expectation of sales or changes in the portfolio configuration. Both would be associated with additional fluctuations.
Different signals – but the mood could be worse
Despite the crisis, not all signals are bad. The Dogecoin-type contains signs that the downward dynamics slowed down. That would be the case if the course continues, but the RSI (relative stringth index) begins to form higher lows, which can mean declining sales pressure.
Dogecoin has now reached the $ 0.135 mark through which the course has moved between resistance and support. Keeping this course can also mean that the trend changes. Some analysts believe that holding on this forms the basis for recovery towards $ 0.18 and possibly higher goals at $ 0.25 or $ 0.30 makes the dynamics reinforce.
#Dogecoin has back-tested a key level from its previous Consolidation Range
$Doge Army! The harder the battle, the sweeter the victory.
Are you ready for $Doge to hit a dollar? pic.twitter.com/Wdk8bOA6wi— Trader Tardigrade (@TATrader_Alan) April 7, 2025
However, the downward trend can continue even if the support does not last at $ 0.135. In this case, the next levels can be observed at $ 0.12 and $ 0.10, which have been active in the past in times of strong consolidation.
outlook
The general market mood in terms of dogecoin remains neutral to slightly negative. Analysts emphasize the importance of the value of $ 0.18 as an early indicator of a recovery. Confectionation of this threshold would have a positive effect, while failure would make the Dogecoin susceptible to a further downward movement.
The future of Dogecoin will most likely choose in the next few days. In fact, a recovery is possible if the level of support of 0.135 and 0.12 is kept. However, a long -term downward trend would probably occur if the course slips below $ 0.06167.
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