Anticipated Decline in Dogecoin (DOGE) Price Looms Ahead
Dogecoin’s (DOGE) price is experiencing a loss of momentum after previously breaking out and reclaiming the $0.068 support area since March 10. While the breakout from a long-term structure usually leads to significant upward movements, the daily RSI does not yet confirm the breakout’s legitimacy. Additionally, the price broke down from an ascending support line on March 25, which may mark the end of the short-term upward movement. If DOGE breaks down from the 0.382 Fib retracement support level at $0.072, the price could fall to the 0.618 Fib retracement support level at $0.069, which aligns with the long-term support area mentioned above. The long-term trend can be considered bullish as long as the Dogecoin price trades above it. The most likely DOGE price forecast is a breakdown from the minor support at $0.072 and a decrease to $0.069, but if the price reclaims the previous ascending support line, it could increase to $0.100.
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