Dogecoin on the Edge: Price Could Crash 30% If This Key Level Breaks!

Dogecoin is trading dangerously close to a major technical support level that could determine its next major move. According to Ali Martinez, the meme-based cryptocurrency is now testing the lower boundary of a symmetrical triangle pattern, which has been forming since February.

This technical structure has narrowed Dogecoin’s price action over recent months, keeping it trapped in a tightening range. At the moment, the coin is trading at about 0.175, slightly above the point of support at 0.168. The level is also related closely to the Fibonacci retracement of 78.6, so this is another crucial point to watch by both the bulls and the bears.

The significant move below the 168 mark may lead to a rapid 30 percent decline, and DOGE may find itself in a low-liquidity zone. Analysts describe this zone as a void zone, ranging from 0.168 on the lower side to the 0.13-0.12 levels. Price has fought to hold this support in history, so bears may be able to pick up some momentum.

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Key Price Zones Could Determine DOGE’s Short-Term Fate

Technical projections from Fibonacci extension levels outline even lower targets if selling pressure intensifies. These include $0.093 and $0.078, should market sentiment remain negative and volume continue to thin. This adds to growing concerns that a breakdown could lead to significant losses in a short span.

Dogecoin got a rally earlier this year and hit a high of around 0.44, but since then has lost thrust on the upside. As the crypto market, in general, has tried to recover, DOGE has struggled. This failure to break above the upper edge of the triangle has exposed it to bearish movement.

When bulls can hold the present level and organize a rebound, the following resistance areas will be located at 0.205 and 0.237. However, any lasting healing would probably require a confirmed penetration over the symmetrical triangle to make any progress.

Dogecoin is also in a critical technical position, and the resistance line stands at $0.168. A decrease below it can result in a sudden 30% setback, with DOGE remaining vulnerable to further declines as support levels crumble.

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