Dogecoin Might Lose 30% In Price, Headed To $0.22: Analysis

WikiBit|2021-08-26

Abstract:Dogecoin (CRYPTO: DOGE) now faces a major downturn after losing a key support level, with the price proceeding towards the $0.22 level. What Happened: According to an FX Street technical analysis published on Tuesday, Dogecoin is headed towards the $0.22052 price level after losing the support located at $0.30788. This results in a downturn of 32.66% from this week's Dogecoin's high of $0.3275 and of over 24% from its current price of $0.2902. FX Street's technical analysis placed Dogecoin at a crossroad, and if — instead of losing the support located at $0.30788 — it breached the resistance located at $0.32865, then it would be expected to reach $0.35151. This would have been a price over 21% higher than the current one.

Dogecoin (CRYPTO: DOGE) now faces a major downturn after losing a key support level, with the price proceeding towards the $0.22 level.

What Happened: According to an FXStreet technical analysis published on Tuesday, Dogecoin is headed towards the $0.22052 price level after losing the support located at $0.30788. This results in a downturn of 32.66% from this week's Dogecoin's high of $0.3275 and of over 24% from its current price of $0.2902.

FXStreet's technical analysis placed Dogecoin at a crossroad, and if — instead of losing the support located at $0.30788 — it breached the resistance located at $0.32865, then it would be expected to reach $0.35151. This would have been a price over 21% higher than the current one.

Disclaimer

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.