Dogecoin Cracks Again: Pair Collapse Signals Drop
Dogecoin Cracks Again: Pair Collapse Signals Drop
Dogecoin cracks again as its BTC pair breaks down sharply, dragging the price structure into bearish territory. Dogecoin cracks again, with momentum fading and key support levels giving way.
Dogecoin BTC Pair Breakdown
The DOGE/BTC pair hit a 68-day low, breaching critical support, with a slip below 1.57% marking a fresh 180-day low. 327 million Dogecoin were moved off Robinhood, sparking a brief 1% relief bounce to $0.092.
Technical Analysis
On-chain data shows a whale moving a large amount of Dogecoin, while momentum indicators are faltering across the board. Without a significant catalyst, the technical breakdown of the BTC pair is expected to lead the way.
Dogecoin USDT Pair
The USDT pair is still required to trigger a broader sell-off, with primary targets set in the $0.07 region. Market participants are waiting for a confirmed break of the current range to initiate short positions.
Elliott Wave Theory
Examining the broader picture through Elliott Wave Theory, the structure suggests a long-term cycle is unfolding. Wave 1 is seen completing around the January 2018 altcoin peak, followed by Wave 2 in March 2020.
Key Takeaways
- Dogecoin's BTC pair breaks down sharply, signaling a potential drop to $0.07.
- Momentum indicators are faltering, with a slip below 1.57% marking a fresh 180-day low.
- The USDT pair is still required to trigger a broader sell-off, with primary targets set in the $0.07 region.
- Elliott Wave Theory suggests a long-term cycle is unfolding, with a potential target around $1.41.
Frequently Asked Questions
What is the current price of Dogecoin?
The current price of Dogecoin is around $0.092, with a potential drop to $0.07.
What is the predicted target for Dogecoin using Elliott Wave Theory?
The predicted target for Dogecoin using Elliott Wave Theory is around $1.41, representing a potential 15x move from current levels.
