Dogecoin Price Risks Drop to $0.074 if This Support Fails, Analyst

Key Insights:

• Dogecoin price has maintained a significant trendline for six consecutive daily tests.
• Ali Charts marked $0.096 as key support and $0.074 to be the next major level.
• A liquidity sweep and consolidation are hints of basing, but momentum is still weak.

Dogecoin price is holding onto an important day-to-day trendline after a long slide. DOGE price still appears to be structurally supported, but momentum appears fragile. Traders are watching support zones for confirmation of either a base or a breakdown.

Dogecoin Price Retests Trendline

Trader Tardigrade stated that Dogecoin has tested the trendline for 6 days in a row of daily candles. Price is probing below it, but is still closing above the descending line. That repeated defense keeps the structure technically bullish, even if the move appears tired.

He also warned that the bounce “looks like it’s running on fumes.” In his view, Dogecoin price requires genuine demand in order to prove any breakout attempt. He prefers more powerful candles and a clean volume accumulation before trusting upside continuation. Without that, though, DOGE price may just grind sideways with frequent fakeouts.

The chart puts the current action in the context of a back-test phase after a breakout attempt. For buyers to defend the trendline and go higher, the next pockets of resistance come into play. If the line eventually breaks, the market is likely to reverse at deeper support zones.

On-chain Cost Zones put $0.096 in Focus

Ali Charts highlighted URPD data to display where DOGE supply is concentrated. He said $0.096 is the most important support level in the near-term. If the Dogecoin price fell into that region, he set the next major support at $0.074.

URPD levels are significant because they indicate where coins were last in circulation. When price returns to those zones, the reactions can be sharp. Buyers tend to defend their cost basis, and sellers will often pressure failed supports.

In this situation, $0.096 is behaving like a floor below the existing consolidation. A decisive move below it could trigger faster downside, as bids thin. That is why $0.074 ends up being the key “last stand” level on Ali’s map.

Liquidity Sweep and Consolidation Suggest Accumulation

Furthermore, BitGuru stated DOGE is sitting on major daily support after a long downtrend. His chart revealed a sweep in liquidity followed by a consolidation phase. That sequence can be seen when forced selling exhausts and the price starts falling.

He suggested the structure looks more like an accumulation than a fresh distribution. Still, the base is vulnerable without the sustained buying. Any rebound can face resistance at the levels where earlier selloffs began.

For Dogecoin price to turn around for the better, the market needs to continue printing higher lows. That would make the structure more rigid and increase the odds of breakouts. If the base fails instead, the focus goes back to $0.096, then $0.074.

Copper/Gold Ratio Adds a Macro Lens for DOGE Cycle

Meanwhile, Cantonese Cat added a macro angle using the Copper/Gold ratio. His chart indicates major DOGE tops and bottoms occurring in tune with turns in that ratio. Copper is a frequently used proxy for growth, and gold has a defensive demand.

The model draws red circles and green circles on previous DOGE tops and bottoms. The present position suggests DOGE might be closer to a bottoming zone than a topping zone. Even so, correlations are no guarantees.

This macro lens works best as context, rather than triggers. If risk appetite is improved, DOGE price might gain fast because of its beta. If the macro stress returns, Dogecoin price could get stuck in consolidation or slip towards deeper supports.

The post Dogecoin Price Risks Drop to $0.074 if This Support Fails, Analyst appeared first on The Market Periodical.