Dogecoin is trading below key liquidity levels as the price struggles with intense selling pressure. The entire meme coin market has seen massive liquidity outflows, with fear and uncertainty dominating investor sentiment. Speculative assets like DOGE have been hit the hardest, leading to a sharp price decline of over 35% since mid-February. With negative momentum still driving the market, some analysts speculate that this trend could continue, possibly pushing DOGE to even lower levels.
However, not all analysts are bearish on Dogecoin’s future. Analyst Ali Martinez shared a long-term technical analysis suggesting that despite recent struggles, DOGE is still positioned for a potential rally. According to Martinez, if Dogecoin holds above the $0.16 to $0.19 support, the path remains open for a potential move to $4 in the coming months. This support zone has historically been a critical accumulation area, and if buyers step in, Dogecoin could be set for an aggressive rebound.
With the meme coin market at a crossroads, Dogecoin remains a key asset to watch. Whether it continues to drop or reclaims strength will depend on how this crucial support level holds in the coming weeks.
Dogecoin Prepares For A Macro Move
Dogecoin is trading below the $0.25 mark, a key price level that will determine short-term direction. The meme coin market continues to bleed, with speculative assets facing the worst selling pressure. Dogecoin, the leader of this sector, has dropped 46% since late January, struggling to regain momentum as the market remains fearful. Analysts warn that a further downside is possible unless buyers step in to defend key support.
Martinez’s analysis highlights a crucial long-term perspective for Dogecoin. He notes that if DOGE holds above the $0.16 to $0.19 support, the path remains open for a potential move to $4.
This would represent a 1,700% price increase, making DOGE one of the most explosive assets in the market. However, Martinez emphasizes that this move will take time, and even if DOGE holds these levels, it doesn’t guarantee an immediate rally.
In the short term, DOGE must reclaim the $0.25 level to break the bearish trend and confirm a potential reversal. If selling pressure continues, a drop below $0.16 could lead to further declines and invalidate the bullish outlook. For now, all eyes are on whether this crucial support level holds, as it could set the foundation for Dogecoin’s next major move.
DOGE Price Action Details: Key Levels To Watch
Dogecoin (DOGE) is trading at $0.20 after days of struggling to reclaim the $0.21–$0.22 resistance zone. Bulls have failed multiple attempts to push the price higher, and now bears remain in control as selling pressure continues to weigh on the price. With weak momentum in the broader crypto market and meme coins facing heavy liquidity outflows, DOGE is at risk of further downside.
If DOGE fails to hold above current levels, the next major support sits at $0.17, a level where buyers could attempt to defend the price. Losing this mark could lead to another leg down, confirming a prolonged correction. On the other hand, a strong bounce and reclaim of the $0.25 level would indicate that bulls have regained control and could trigger a massive recovery.
For now, DOGE must break above the $0.22 level and flip it into support to build momentum for a potential rally. If buyers step in and push the price above $0.25, it would confirm a trend reversal and open the path for higher targets. However, with bears still leading the market, the risk of a deeper drop remains high, making the coming days crucial for DOGE’s price action.
Featured image from Dall-E, chart from TradingView
Source link
Sebastian Villafuerte
https://www.newsbtc.com/news/dogecoin/dogecoin-will-start-a-move-to-4-if-current-demand-holds-can-bulls-step-in/
2025-03-02 17:00:11
