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Dogecoin's 20% Monthly Slide May Be Setting Up a Major Support Test

MarketDash Editorial Team
8 hours ago
Dogecoin has dropped nearly 20% in a month, but technical analysts say the meme coin is now entering one of its most significant support zones—a range that could determine whether it bounces back or falls further.

Dogecoin (DOGE) has been having a rough month, sliding nearly 20%. But if you're a chart-watcher, there's something interesting happening right now: the meme coin is entering what analysts call a "major confluence zone" of technical support.

A Perfect Storm of Support Levels

According to prominent analyst Kevin, who shared his analysis with subscribers, DOGE is hitting a critical range between $0.138 and $0.108—a 22% band packed with technical indicators that have historically acted as safety nets.

What's stacking up in this zone? Pretty much everything: the macro 0.382 Fibonacci retracement, the 200-week simple moving average, the 12-day 200 SMA/EMA, long-term downtrend support from the previous cycle, and the October 10 wick low. When that many signals converge, technical traders pay attention.

If the price does break below this zone, the next stop would be around $0.093, which lines up with the macro 0.236 Fibonacci level from the 2024 correction.

The 12-Day Indicator That Never Broke

Kevin pointed out something noteworthy about the 12-day timeframe: it's proven to be one of the most reliable higher-time-frame indicators in crypto. During the last bear market, neither Bitcoin (BTC) nor Dogecoin broke below their 12-day 200 SMA/EMA. That's a pretty solid track record.

Timing the Bottom

Here's where it gets interesting for timing. Bitcoin is currently 132 days into a major correction, and historically these corrections run between 114 and 174 days. That suggests there's a better than 50% chance that both BTC and DOGE form their cycle lows within the next 42 days.

DOGE is statistically likely to find a bottom somewhere inside that 22% support zone. Once a counter-trend rally begins, Bitcoin's ability to reclaim the $97,000 to $106,800 range will be crucial—the longer it stays below that level, the harder a full market rebound becomes.

Back to News

Dogecoin's 20% Monthly Slide May Be Setting Up a Major Support Test

MarketDash Editorial Team
8 hours ago
Dogecoin has dropped nearly 20% in a month, but technical analysts say the meme coin is now entering one of its most significant support zones—a range that could determine whether it bounces back or falls further.

Dogecoin (DOGE) has been having a rough month, sliding nearly 20%. But if you're a chart-watcher, there's something interesting happening right now: the meme coin is entering what analysts call a "major confluence zone" of technical support.

A Perfect Storm of Support Levels

According to prominent analyst Kevin, who shared his analysis with subscribers, DOGE is hitting a critical range between $0.138 and $0.108—a 22% band packed with technical indicators that have historically acted as safety nets.

What's stacking up in this zone? Pretty much everything: the macro 0.382 Fibonacci retracement, the 200-week simple moving average, the 12-day 200 SMA/EMA, long-term downtrend support from the previous cycle, and the October 10 wick low. When that many signals converge, technical traders pay attention.

If the price does break below this zone, the next stop would be around $0.093, which lines up with the macro 0.236 Fibonacci level from the 2024 correction.

The 12-Day Indicator That Never Broke

Kevin pointed out something noteworthy about the 12-day timeframe: it's proven to be one of the most reliable higher-time-frame indicators in crypto. During the last bear market, neither Bitcoin (BTC) nor Dogecoin broke below their 12-day 200 SMA/EMA. That's a pretty solid track record.

Timing the Bottom

Here's where it gets interesting for timing. Bitcoin is currently 132 days into a major correction, and historically these corrections run between 114 and 174 days. That suggests there's a better than 50% chance that both BTC and DOGE form their cycle lows within the next 42 days.

DOGE is statistically likely to find a bottom somewhere inside that 22% support zone. Once a counter-trend rally begins, Bitcoin's ability to reclaim the $97,000 to $106,800 range will be crucial—the longer it stays below that level, the harder a full market rebound becomes.