DOGECOIN PRICE ANALYSIS & PREDICTION (March 11) – Doge Sees 6% Gains Amid Meltdown, Possible Recovery Ahead?
After declining by over 20% in a week, Doge found a temporal support today and took a little pause. Bouncing off today’s low, other top meme coins have followed suit, but there’s no assurance for a reversal yet.
Doge’s overall market structure has remained bearish for over three months now as it continues to break lower every week. While several positions have been liquidated on the futures trading, spot traders are still hopeful of a strong recovery while counting heavy losses.
However, it may be too late to recover such a loss as the crypto market stylishly signals an ending bullish cycle. Though, there’s hope for an increase as the price remains within a buying zone in the long term. A continuous monthly breakdown will confirm a bear season start.
Meanwhile, the last 24 hours have marked a tough moment for many investors as the price traded back at a monthly low of $0.142, printed in August 2024. Interestingly, this low level was slightly rejected after dropping for nine straight days.
This rejection has brought a minor gain, but it is uncertain if the gain will last. A continuous hold above this mentioned low should bring more recovery on a daily scale. Advancing drops should set a more bearish tone in the market. The key target level for an extension is $0.1.
DOGE’s Key Level To Watch
The recently broken $0.183 level is now held as resistance. If the price recovers above this level, $0.24 and $0.29 are resistance levels to watch on the way up.
Resuming bearish, the support to watch for a dip is the holding $0.142. There’s close support at $0.128 before it advances to the $0.115 level.
Key Resistance Levels: $0.183, $0.24, $0.29
Key Support Levels: $0.142, $0.128, $0.115
- Spot Price: $0.161
- Trend: Bearish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.
