Dogecoin price prediction: correction to $0.13208 and $0.12299 w
2024-10-25

The chart provided represents a 4-hour Dogecoin (DOGE) to USDT analysis, indicating a potential price correction in the short term. The price is currently trading around $0.1369, and there are two significant support zones marked, which hint at a potential downward movement before a recovery.

Price Correction Levels:
11.61% correction: The chart indicates a first major correction level around $0.13208, representing an approximate 11.61% decline from the recent highs. A buying zone is suggested here, with a recommendation to place a 50% buy order around this level.

17.77% correction: If the price continues to fall, a stronger correction down to $0.12299 is expected, representing a 17.77% decline from the highs. Another 50% buy order is suggested around this price level, making it a key support zone to watch.

Scenario & Price Recovery:
The chart illustrates a potential recovery from these correction levels. If the price stabilizes after the correction, the chart shows two possible upward price projections.
The first path suggests a gradual upward move back to previous highs, possibly breaking out past the $0.145 mark and heading towards the $0.15-$0.158 range.
A more bullish scenario predicts a sharper recovery that could push Dogecoin prices beyond $0.158, assuming the support levels hold and buyers accumulate at these correction zones.
This analysis suggests a cautious approach, with staggered buy orders placed at key support levels during a correction phase to capitalize on potential upward momentum afterward.