Dogecoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-expect-dogecoin-to-maintain-positive-trend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Expect Dogecoin to Maintain Positive Trend</a><br></p>
<p style="text-align: justify">Meme coin leader Dogecoin (<a href="https://en.coin-turk.com/dogecoin-doge-price-analysis-will-doge-continue-to-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>) continues to stay in the positive zone with a 1.68% weekly gain. Despite the bearish market outlook, DOGE has not lost all its weekly gains, and analysts remain optimistic about its upward trend. A chart shared by TradingShot on July 24 suggests that Dogecoin might be repeating past price movements.</p>
<h2 style="text-align: justify" id="doge-s-history">DOGE’s History</h2>
<p style="text-align: justify">According to the analysis, from 2014 to 2017, Dogecoin experienced a decline followed by an accumulation phase. During this 3-year period, DOGE’s price plummeted by an incredible 96.26%, hitting a low of $0.002198. After the decline, Dogecoin remained in a consolidation zone for approximately 1,050 days (150 weeks).</p>
<p style="text-align: justify"><img fetchpriority="high" decoding="async" class="aligncenter size-full wp-image-373719" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-kripto-1-coin-turk-com.png" alt="" width="508" height="183"></p>
<p style="text-align: justify">Following this period, from 2017 to 2018, the price movement indicated a rally. However, things changed from 2018 to 2019, and Dogecoin showed a downward trend. This decline reached 92.96%, causing panic among <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a>. The events followed a cycle, and after hitting the bottom, a new accumulation phase began.</p>
<p style="text-align: justify">Since 2020, Dogecoin appears to be in a new accumulation phase. Considering past price movements, this phase seems to parallel previous events and suggests consolidation before a potential new breakout.</p>
<h2 style="text-align: justify" id="doge-comments">DOGE Comments</h2>
<p style="text-align: justify">Looking at the DOGE chart, the first support level is seen between $0.07 and $0.08, sustained by the 1-week moving average line. This level has previously served as significant support during accumulation phases and can be considered a precursor to potential breakouts.</p>
<p style="text-align: justify">The next deeper support level is found around the $0.002198 region, which was one of the critical levels during past accumulation phases.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-373720" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-kripto-2-coin-turk-com.png" alt="" width="498" height="185"></p>
<p style="text-align: justify">Regarding resistance, the 0.236 Fibonacci retracement level at the $0.20 region marks an important point. For the upward movement to gain real momentum, surpassing this region is crucial. Beyond that, the resistance at the 0.618 Fibonacci level, located around the $2 region, remains distant and overly optimistic for now.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analysts-expect-dogecoin-to-maintain-positive-trend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Expect Dogecoin to Maintain Positive Trend</a></h5>
<p>The post <a href="https://en.coin-turk.com/analysts-expect-dogecoin-to-maintain-positive-trend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Expect Dogecoin to Maintain Positive Trend</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Analysts Expect Dogecoin to Maintain Positive Trend

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