💢DOGECOIN's PATH TO RECOVERY: Analyst Predicts a Major Rally Ahead💢

👉RECENT PRICE DROP:

Dogecoin (DOGE) has fallen 29% since reaching a local high on January 18, following the overall downtrend in meme coins.

👉KEY DEMAND LEVELS:

Despite the drop, DOGE is approaching important support levels that have previously facilitated recoveries. The current level is seen as a potential turning point.

👉TECHNICAL ANALYSIS BY SCIENT:

Analyst Scient shared a technical analysis, noting that DOGE is consolidating above the 1-day support level and is receiving strong support at the 100 EMA (Exponential Moving Average). This suggests that buying pressure is increasing.

👉POTIENTIAL PRICE REVERSAL:

As DOGE stabilizes at these key levels, a price reversal could be imminent, signaling a potential rally.

👉KEY SUPPORT ZONE:

DOGE is currently priced at $0.32, which is a critical demand zone. While uncertainty persists in the broader crypto market, Scient remains optimistic about DOGE's prospects.

👉LOWER SUPPORT LEVELS :

Scient also pointed to additional support around $0.262 and the 1-day 200 EMA. If DOGE holds above these levels, there could be opportunities for accumulation, and the outlook remains positive.

👉BEARISH SCENARIO

If DOGE drops below the 1-day 200 EMA, this would signal a bearish trend and further declines.

👉UPCOMING DAYS ARE CRUCIAL:

The next few days are crucial for determining DOGE's short-term direction. For recovery to happen, bulls need to defend these key support levels and prevent further price declines.

$DOGE

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