Fun

Dogecoin Price Tests Panic Zone At $0.21, Breakdown Could Lead To Price Crash

News Feed - 2025-05-19 07:05:38

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español.


Dogecoin is currently showing signs of selling pressureafter shedding much of the bullish momentum it had gatheredin late April and early May. Technical analysis of the Dogecoin price shows that the meme cryptocurrency is precariously hovering just above a key support levelthat puts it one step away from a downtrend. 


Crypto analyst RLinda noted this level, set at $0.214, on the TradingView platform, labeling it a retest of the panic zone.  Related Reading XRP 100x Gains Coming? The Future Is Closer Than You Think—Analyst 11 hours ago Panic Zone Under Retest Due To Dogecoin Correction


According to RLinda’s analysis,Dogecoin’s distribution phase between May 9 and 11 ended in the $0.2600 range, eventually marking the end of its latest bullish impulse. During this distribution phase, Dogecoin squandered all the potential it had accumulated in late April and early May.


From that point, the price has been falling steadily, entering what the analyst describes as the correction or dump phase.This has caused the meme coin to test the 0.214 level, the current panic zone. A confirmed breakdown below this panic zone, particularly beneath the 0.2135 support line, would not only liquidate long positions but also likely intensify selling pressure, eventually leading to what could become an uncontrolled price decline.


Interestingly, this correction price action has been characterized by lower highs, leading to the formation of a triangle pattern that’s visible on the 2-hour timeframe. RLinda warned that if the triangle’s base is broken, this structural failure could reinforce bearish sentiment. This would open the door to downside targets closer to $0.20 and possibly even $0.19. Image From TradingView: RLinda Dogecoin Resistance And Support Levels To Watch


The immediate resistance lies at$0.222 and $0.2307, representing key zones Dogecoin must reclaim to negate the current bearish setup. A move above these points, especially if the price consolidates above $0.23, will invalidate the bearish breakdown structure and could renew bullish sentiment. However, RLinda made it clear that such a scenario is only worth considering after a clear confirmation, as current momentum still favors sellers. DOGE market cap currently at $33.6 billion. Chart: TradingView.com Related Reading Trump Token Mania: Over 6,000% Pump Or Classic Solana Trap? 1 day ago


On the other hand, support levels of $0.2145 and $0.2135 are currently the final shields holding back further declines. A close below $0.2135 would confirm the continuation of the downtrend and push the Dogecoin price into a lower consolidation zone, with limited immediate support until $0.20126 and $0.19298.


At the time of writing, Dogecoin is trading at $0.22, up 1.72% over the past 24 hours. This slight recovery hints at early signs of strength and may already be undermining the bearish setup. Although this slight recovery is not enough on its own to confirm a bullish reversal, it does show that buyers are attempting to regain some control. If this momentum can be sustained into the new week, it could gradually pave the way for a more sustained move higherfor Dogecoin during the week.


Featured image from Mashable, chart from TradingView

News Feed

Tech Giant Globant Believes the Metaverse Will Have Its Make or Break Moment in 2023
Tech Giant Globant Believes the Metaverse Will Have Its Make or Break Moment in 2023 Globant, a Luxembourg-based tech giant with Argentine origins, has referred to the short-term f
Evan Luthra7 hours agoOpinion: Why did Bitget seize more than $200,000 of my money?Bitget seized more than $200,000 of my cash. Now its executives won’t tell me what they"re doing with it, or if they intend to return i
Co-Founder of Zimbabwean Fintech Startup: ‘Everyone Has a Right to Access Funds and Financial Freedom’
Co-Founder of Zimbabwean Fintech Startup: "Everyone Has a Right to Access Funds and Financial Freedom" Cryptocurrencies have been proven to be a financial tool that can be used to
LBank Goes on a Worldwide Grassroot Educational Campaign in July
LBank Goes on a Worldwide Grassroot Educational Campaign in July sponsored Top cryptocurrency exchange, LBank, gave its various communities across the world a July to remember. With
Bitcoin Price Just Crashed 7% On Trump’s Tariff Shock
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
UK Judge Rejects US Extradition Requests for Julian Assange, Wikileaks Holds $800K in Crypto
UK Judge Rejects US Extradition Requests for Julian Assange, Wikileaks Holds $800K in Crypto On Monday, a British judge rejected the U.S. request to extradite th
Bitcoin price coils as market confirms $65K as ‘real resistance’
William Suberg3 hours agoBitcoin price coils as market confirms $65K as ‘real resistance’BTC price “chop” is still the name of the game, with Bitcoin bulls yet to mount a charge at a $65,000 sell wall.2508 Total
How and when to sell your crypto: A simple guide
Marco Castrovilli7 hours agoHow and when to sell your crypto: A simple guideThe latest Cointelegraph video explains how to set up a successful exit strategy in crypto using a few simple steps.857 Total views13 Total shar
Disputed Venezuelan Gold Worth $1.8B in Bank of England Vaults Remains Uncertain After Dissolution of Interim Government
Disputed Venezuelan Gold Worth $1.8B in Bank of England Vaults Remains Uncertain After Dissolution of Interim Government The status of the Venezuelan gold currently being held by t
William Suberg39 minutes agoMiners send millions to exchanges — 5 things to know in Bitcoin this weekBitcoin miners appear to be reducing risk as the significance of BTC price above $30,000 remains firmly in evidence.5
Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out
Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out A cryptocurrency law, which had been in discussion for several months, h
Ezra Reguerra12 hours agoMiss Universe denies link with recently unveiled coin projectThe Miss Universe Organization said no Miss Universe cryptocurrency or blockchain offering is involved with the Miss Universe or Miss