Dogecoin and Pepecoin support levels lost: a bargain hunting opportunity or a trap? Worth pondering!

Dogecoin and Pepecoin both suffered a drop of more than 10% this week, hitting a key point on Thursday.

After climbing to a new high of $0.48 on December 8, Dogecoin fell more than 23% in 10 days, and fell back to the 50-day moving average of $0.35 on Tuesday (this is the retracement position of 61.8% of the increase from November to December), and the current price is about $0.36.

Operational suggestions and subsequent trends: When the price is at $0.35, you can consider buying. If it can stabilize at this price, it is expected to rise by 13.5% to $0.41.

However, its daily strength index is below 50, indicating that the bearish force is strong, and it needs to rise above 50 to be conducive to rising, otherwise it may fall further to $0.31.

After reaching a new high of $0.000028 on December 9, Pepecoin fell back by 26.6% in 9 days and slipped to $0.000018 on Thursday (this is a 50% retracement from November to the new high and a key daily support point).

When the price is at $0.000018, you can consider buying it. If there is a rebound, it is expected to rise by 28% to $0.000024.

Similarly, its daily strength index is below 50, indicating that the bearish force is strong. It needs to return to above 50 to be conducive to rising, otherwise it may fall to $0.000016.

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