The crypto analyst More Crypto Online has presented a technical update on Dogecoin, indicating that the meme coin may be at a potential turning point. The analyst uses Elliott Wave counts and Fibonacci retracement levels to map out Dogecoin's possible next steps. The chart shows a corrective sequence and a major swing low at around $0.21-$0.22. However, there is uncertainty regarding whether this is the bottom or if there will be one more correction. Key support levels for Dogecoin are found at the $0.22-$0.24 region. The analyst stresses that there is no clear confirmation of a bottom yet and highlights two levels that could confirm a bullish reversal. Until these levels are breached, caution is advised. The chart also shows that Dogecoin's recent uptick has been shallow, indicating that sellers are still active. If Dogecoin fails to break above $0.293 soon, its sideways movement could continue, and a dip below $0.22 could lead to a more extended corrective pattern. The analyst suggests that a break above $0.293 would be the first step in signaling a potential reversal. At the time of writing, Dogecoin is trading at $0.25.



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