Dogecoin Dips But Traders Identify This Critical Support Zone For A Bounce
Portfolio Pulse from Khyathi Dalal
Dogecoin's recent price drop has traders identifying a critical support zone at $0.15, suggesting a potential bounce to $0.22. The 'cup and handle' pattern indicates bullish potential, with traders recommending entry points at $0.16. However, if current levels don't hold, DOGE could trend toward $0.14. Industry rumors suggest a potential DOGE integration with X payments on 'DOGE Day'.
November 01, 2024 | 2:55 pm
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Dogecoin's price is currently at a critical support zone of $0.15, with potential to bounce to $0.22 if the 'cup and handle' pattern holds. Traders are watching for a bullish rally, but caution that failure to hold current levels could see DOGE drop to $0.14.
The 'cup and handle' pattern is a strong bullish indicator, suggesting a potential price increase. The identified support zone at $0.15 is critical for a bounce, and traders are optimistic about a rally. However, the decrease in large transaction volume and daily active addresses could pose a risk if the support doesn't hold.
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