) Notable downward pressures, with a decline in technical momentum and weakness in key support levels.
๐ Brief Technical Analysis
Current price: approximately $0.19, with a projected decline of 5.34% by June 2.
Critical support levels: $0.188 and $0.150. Breaking these levels could push the price towards $0.10 or even $0.05.
Potential technical pattern: Charts indicate the formation of a "double bottom" pattern on the 4-hour timeframe, which may suggest a bullish reversal if confirmed.
๐ Negative Factors
Declining interest: A decrease in searches for Dogecoin by over 70% since April, reflecting a decline in public interest.
Negative history in June: Historically, June is considered one of the worst months for Dogecoin's performance, with an average decline of about 7.3%.
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๐ Future Predictions
Optimistic outlook: Some analysts see the possibility of the price rising to $0.30 if the bullish pattern is confirmed.
Conservative outlook: Other forecasts suggest price stability around $0.192 over the next thirty days.
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โ Recommendation
Due to current volatility and technical pressures, traders are advised to exercise caution and monitor key support and resistance levels, being prepared to make quick decisions based on market movements.
