Dogecoin Price Set For Explosive Rally If This Structure Holds

The Dogecoin price is at a significant decision point on the chart, and according to a new analysis posted on TradingView, the next move could be ￰0￱ popular token is trading above a key support area that it has repeatedly ￰1￱ buyers continue to defend this structure, the top memecoin has room to rally higher. However, if the support fails, the bullish outlook could fade rapidly, leaving Dogecoin vulnerable to a deeper ￰2￱ Price Holds Critical 0.5 Fibonacci Support According to the TradingView analyst, Dogecoin is consolidating just above the $0.214 level, which matches the 0.5 Fibonacci retracement and the ascending trendline ￰3￱ analyst described this support as a “make-or-break” zone for the Dogecoin ￰4￱ bulls can keep the price steady here, it may give them the strength to push ￰5￱ Reading: Crypto Adviser For The Ultra Wealthy Tells XRP Investors What To Do As Coins Turn To Real Money The 0.214 area is essential as it combines two key supports simultaneously: the Fibonacci 0.5 level and the rising ￰6￱ to the analyst, this means buyers must hold firm to keep ￰7￱ Stoch RSI indicator is also resetting in the middle zone, which shows the market has room for momentum in either ￰8￱ simple terms, it signals that a bigger move could be coming soon, depending on whether buyers or sellers take control ￰9￱ zone is now watched closely by ￰10￱ above it suggests that buyers are still in ￰11￱ below it, however, would open the door for a deeper test of lower ￰12￱ Could Target $0.278, Breakdown Risks $0.197 The analyst notes that if bulls succeed in defending the 0.214 level, Dogecoin could bounce toward the $0.278 resistance ￰13￱ level they described as a central horizontal supply zone, where sellers may attempt to halt the ￰14￱ past it would confirm strength from buyers and could drive fresh momentum into the ￰15￱ Reading: Analyst Forecasts Bitcoin Price Will Break This Support Level, Can $100,000 Hold?

The analyst cautions about the risks at play ￰16￱ the structure fails and price breaks down from the 0.214 area, the next necessary support lies near $0.197, known as the golden ￰17￱ under this level would cancel the bullish outlook and push the price toward the deeper retracement zone at $0.173. The analyst says that Dogecoin’s next direction depends on how the price reacts at this ￰18￱ need to hold their ground if they want to trigger a run toward higher levels. Sellers, on the other hand, are waiting for any sign of weakness to lower ￰19￱ this stage, Dogecoin stands at a decisive ￰20￱ watchers are keeping a close eye to see whether bulls can protect the structure and ignite the bounce toward higher resistance, or if sellers will seize control ￰21￱ image from DALL.

E, chart from ￰22￱