This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline

Este artículo también está disponible en español.

Two days ago, a crypto analyst accurately forecasted a Dogecoin price crash, which has since taken place. According to the analyst’s latest projections, Dogecoin is poised for a steeper decline, with an anticipated 30% crash from its current trading price.  Analyst Forecasts 30% Price Crash 

The Dogecoin price has crashed to $0.35, marking a substantial 14% decrease over the past seven days. Earlier this month, Dogecoin was trading above $0.4 after experiencing a sharp rise driven by the positive market sentiment fueled by Donald Trump’s victoryin the US Presidential elections.  Related Reading Bitcoin Price Still Mirroring Bullish Move From 2023, What To Expect After Hitting $108,000 ATH 1 day ago

A TradingView crypto analyst, known as the ‘MMBTrader’ who accurately predicted Dogecoin’s recent price crash, has now updatedhis forecasts to warn of further potential declines. The analyst shared a chart, analyzing Dogecoin’s price actionand potential future movements. Currently trading above $0.3, the DOGE price is slowly approaching a critical resistance, illuminated by the red zone at the $0.438 level.  Source: TradingView

The red arrow on the chart illustrates a potential short-term correction, set to trigger a Dogecoin price crash to the central support zone near the $0.25 mark. This substantial price drop would indicate a 30% decline from Dogecoin’s current price. Additionally, the analyst suggests that this projected price crash is a retracement, aligning with 0.618, the Fibonacci level indicated on the chart. 

The TradingView analyst has also revealed that if the Dogecoin price can establish strong support at the $0.25 level, it could confirm a bullish trend continuation. Such a development could pave the way for a potential Dogecoin price rally in the near term.   

Moving ahead, the green arrows in the analyst’s DOGE price chartrepresent the next potential phase pump. The analyst has predicted that a solid rebound from the $0.25 support level could trigger a new bullish phase for Dogecoin. Additionally, he projects a new bullish target towards the $0.75 area for Dogecoin, marking a significant leap to new price highs.

Overall, the TradingView analyst has pinpointed $0.45 as the level to watch out for. Although a drop to $0.25 would mark a 30% crash for Dogecoin, a potential surge to $0.75 would represent a 115% price increase. Dogecoin Price Breakout To $1 Sighted

While Dogecoin faces volatility and declines, Trader Tardigrade, a prominent crypto analyst, has expressed confidence regarding the meme coin’s potential shift to the upside. According to the analyst, Dogecoin is currently movingin a defined range between $0.33 and $0.49, highlighted by the purple rectangle in the price chart.  Related Reading XRP Price Ready To Run To $11 ATH? Alternative Larger Metrics Show The Answer 1 day ago Source: TradingView

Looking at the chart, this range represents a period of consolidationduring which the price of Dogecoin appears to fluctuate between resistance and support zones. The analyst has depicted that a breakout above the range’s upper boundary could continue Dogecoin’s rally to new all-time highsat $1.05.  DOGE price moves up after crash | Source: DOGEUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com