Dogecoin Selling Strategy: Fibonacci Levels To Track


The expert said he would sell off most of his $DOGE holdings should the price of Dogecoin climb to the 0.702 or 0.786 Fibonacci level and fail to break above it. This selling approach seeks to minimize probable losses and maximize profit even in the state of weakness of the market.


According to the Charting Guy, his thesis for the future Dogecoin price action points to a possible market top by late April or early May followed by a bottom maybe developing. Expecting a dramatic collapse to new lows in March 2025, he said he intended to sell his bags around this pricing high.


From a crucial high and low, the charting guru draws various Fibonacci retracing and extension levels while sharing a weekly Dogecoin price chart. Potential resistance zone for Dogecoin is the 0.702 Fib level at $0.43.


Should the meme cryptocurrency be able to claim and surpass this resistance level, the crypto researcher expects it to re acquire its prior bullish momentum and target higher Fibonacci levels. This might result in a slow ascent beyond important Fib levels: 0.618 ($0.26), 0.786 ($0.42), 0.888 ($0.55), 1 ($0.76), 1.272 ($1.60), 1.414 ($2.6), and finally 1.618 ($4.1), the most optimistic aim.


Should Dogecoin fail to breach this level and be rejected, it would indicate a more general market weakness and maybe result in a more significant price decline to lower Fibonacci support levels of 0.382 ($0.139), 0.236 ($0.09), 0.136 ($0.07), and 0 ($0.049).


The Charting Guy said before then he would sell his bags instead of waiting for an increase to $1. Between $0.32 and $0.42 he intends to leave the market, giving profit taking first priority above unwarranted risks.


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March 08, 2025 at 8:39 AM
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