Dogecoin Bakal Anjlok Lagi? Analisis Terbaru Bikin Penasaran

Technical Analysis: Dogecoin (DOGE) Indicates Potential Downtrend

Dogecoin (DOGE) is currently under close scrutiny from analysts after showing signs of a retracement despite a recent price surge.

Failed DOGE Price Spike

Alan Santana, a popular cryptocurrency analyst on TradingView, recently updated his outlook on DOGE's price action, stating, "I believe I recently shared bullish analysis on DOGE. If you read it, this is an important update."

According to Santana, the recent surge in DOGE's price has culminated in a failed bullish move.

The price spike encountered resistance at the same level that triggered a crash on August 5th. For the DOGEUSDT pair, this high was seen on July 21st around $0.14300, marked by the blue line on the chart.

Since then, DOGE has retraced below this level, forming a rounded top pattern, which is often a bearish reversal signal. "Dogecoin is poised to move lower based on technicals, market conditions, and current signals," Santana added.

Potential Price Decline and Future Movement

While DOGE is expected to experience a decline, Santana suggests that this could lead to the formation of a higher low. This means that while a pullback will occur, the lows reached should not be extreme.

The decline is anticipated to take place around the August 5th lows, slightly above or below, but not significantly lower.

"The good news is that these types of moves can result in a higher low, meaning the drop does not need to be too deep," Santana explained.

Trading and Investment Advice

For DOGE traders and holders, Santana advises closing long positions as he anticipates the price to continue declining over the next few weeks to months.

For those holding a spot position, he recommends selling now and buying back at a lower price. "If you're a long-term holder, you can just let the whole thing play out as this will likely only take a few weeks to months," Santana added.

Long-Term Projections and 2025 Growth Potential

For those who are long-term accumulators, Santana suggests holding their coins and buying more on the dips.

"If you're a long-term holder, get comfortable holding and buying more on the way down. We're still looking at some massive growth in 2025," Santana stated optimistically.

As of writing, Dogecoin is trading at around $0.1402, showing a 1.87% gain in the last 24 hours. However, with bearish signals continuing to emerge on the charts, traders and investors are advised to remain cautious in the coming weeks.