Crypto Expert Predicts Dogecoin (DOGE) Price Could Crash Unless This Changes…

Dogecoin Price Faces Critical Crossroads

The cryptocurrency market is experiencing a downturn, with Bitcoin dropping to $88,000. This decline has triggered selling across the board, including Dogecoin. Analyst Ali warns that if DOGE falls below $0.19, it could potentially plummet to $0.06.

Technical Analysis Highlights Critical Resistance

Dogecoin has traded within an upward channel for nearly a decade. The boundaries of this channel represent potential support and resistance levels. Currently, the $0.19 level coincides with the 0.618 Fibonacci level, historically a strong support during market corrections.

Despite previous attempts to break higher, DOGE's price has failed to maintain momentum near $0.50, leading to a rejection from the upper trendline. Analysts predict a potential 70% decline to $0.06 if buyers fail to defend the current range. This price aligns with lower Fibonacci levels and previous accumulation phases.

Macroeconomic Factors Fuel Selling Pressure

The crypto market as a whole is facing challenges. Bitcoin's price drop has led to increased selling across smaller coins, including DOGE. Traders are cautiously watching to see if DOGE can hold above its current price or continue to decline.

Critical Support Level

If Dogecoin's price remains above $0.19, it may stabilize and potentially recover towards $0.50. However, if it breaks below this level, further selling pressure could drive it down towards $0.06. The coming days will determine whether buyers can hold this critical support or if the price will continue to decline.