Dogecoin Down 20% In A Month: Why Is DOGE So Weak?

Dogecoin (CRYPTO: DOGE) has slipped almost 20% over the previous month, however analysts say the meme coin is now approaching certainly one of its strongest higher-time-frame support zones.

What Occurred: Distinguished analyst Kevin famous in his unique Patreon that DOGE is coming into a significant confluence zone between $0.138–$0.108, a 22% vary stuffed with a number of long-term help indicators:

• The macro 0.382 Fibonacci retracement
• The 200-week SMA
• The 12-day 200 SMA/EMA
• Lengthy-term downtrend help from the earlier cycle
• The Oct. 10 wick low

If worth breaks under this zone, Kevin flags $0.093 as the subsequent main help, aligned with the macro 0.236 Fib from the 2024 correction.

He highlighted the 12-day timeframe as one of the dependable higher-time-frame indicators in crypto, noting that neither Bitcoin (CRYPTO: BTC) nor Dogecoin broke under their 12D 200 SMA/EMA over the last bear market.

Additionally Learn: Bitcoin At $92,000 As Ethereum, XRP, Dogecoin Start Monday Strong

What’s Subsequent: Kevin defined that Bitcoin is presently in a significant correction (Day 132), and traditionally BTC corrections final 114–148–174 days.

This provides a larger than 50% likelihood that each BTC and DOGE type their cycle lows inside the subsequent 42 days, with bearish momentum anticipated to chill quickly.

DOGE is statistically prone to backside someplace contained in the 22% help zone.

As soon as a counter-trend rally begins, Bitcoin’s potential to reclaim $97,000–$106,800 will decide the energy of the broader market restoration, the longer BTC stays under that vary, the more durable a full rebound turns into.

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