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Dogecoin Crashes 40%, But This Analyst Sees A Bullish Setup Newsbtc 1 सप्ताह पहले

Dogecoin Crashes 40%, But This Analyst Sees A Bullish Setup 📉

Dogecoin Trump administration Coosh Alemzadeh China México

Dogecoin (DOGE) experienced a dramatic decline, losing nearly 40% of its value, as it dropped to as low as $0.20 before recovering slightly to $0.25. Despite this downturn, crypto analyst Coosh Alemzadeh holds a positive long-term view on DOGE, indicating potential bullish setups based on his chart analysis.

The recent introduction of new tariffs by the Trump administration on countries like China, Mexico, and Canada has disrupted financial markets, including cryptocurrencies. As a result, Dogecoin faced a significant sell-off, linked to wider market concerns over an escalating trade war.

According to Alemzadeh's analysis, DOGE's price managed to initially surpass a key resistance trendline in October. Although it is currently below this line, maintaining positions above a 30-week moving average suggests potential for a bullish rebound. Fibonacci retracement and extension levels provide insight on market dynamics and potential support and resistance areas.

Dogecoin's current dip aligns with Elliott Wave analysis, with prospects of a bullish phase if wave four support is confirmed. Potential targets include $1.27 and $2.30, contingent on renewed bullish sentiment.

स्रोत: www.newsbtc.com ↗

समान लेख (67)

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