DOGECOIN (DOGE) Market Analysis Update
The DOGE chart is currently undergoing a pullback, but critical support levels are still intact.
We are tracking a potential 5-wave move up from the April 7th low (around $0.13) to confirm a trend reversal.
Key Points:
Three waves up are currently visible — one more high is needed to better confirm a five-wave structure.
DOGE reached the $0.191 level recently, aligning with prior Fib targets.
A wave 4 pullback now seems underway.
Support Zones for Wave 4:
Ideal Support: Between $0.155 – $0.168 (preferable for a healthy wave 4).
Weaker Support: $0.177 (possible minor bounce, but less ideal).
Entry Strategy:
Buy Zone: Accumulate in the $0.155 – $0.168 range if bullish reaction is confirmed.
Alternative Entry: On a confirmed reclaim of $0.177 after a fakeout below.
Profit Targets:
First Target (Fifth Wave Completion): Around $0.206 (161.8% Fibonacci extension).
Mid-Term Target: $0.30
Higher Targets: $0.40 – $0.50+ (upon full 5-wave confirmation and breakout continuation).
Stop Loss:
Below $0.155 → if price breaks and closes below this level, the wave 4 structure risks invalidation.
Summary:
DOGE still needs to complete the 5-wave structure.
A healthy wave 4 pullback is ideal now; afterward, a fifth wave toward $0.206 is expected.
Focus on $0.155 – $0.168 area for a potential low-risk entry.
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