Currently, Dogecoin is holding steady at $0.167, becoming the critical price level that determines its fate🚧
Technical analyst Ali points out that its long-term support at the lower limit of the parallel channel is in jeopardy. If it successfully holds, the price is expected to surge rapidly to $0.25, challenging the upper boundary of the channel; however, if it fails to hold, panic selling may be imminent💥
Previously, Dogecoin has made remarkable comebacks at similar support levels, and the current technical formation also signals bullish potential. Moreover, in the past month, its active addresses have surged by 47%, indicating signs of market recovery. However, it cannot be overlooked that whale trading volumes have decreased by over 69%, and macroeconomic fluctuations along with market sentiment are filled with uncertainties. In the coming weeks, Dogecoin's direction will soon become clear. Do you think it will rebound strongly or fall to the bottom?
