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Dogecoin faces a downturn, beware of the key level at $0.062
【Crypto World】Dogecoin’s current market trend is not very favorable. The previously maintained $0.16-$0.18 range has already been broken, and it has now become a resistance level overhead. Even more concerning is that the support below the current price is clearly weak, giving bears an opportunity to take advantage.
From a technical perspective, the situation is indeed not optimistic. The chart shows a clear distribution pattern, and the lack of buying interest in the market makes things worse. Analysis suggests that Dogecoin may face further decline, with key levels to watch: if it drops below $0.10, the next line of defense is $0.062. Losing this level could add a zero to the price, which might signify a major shift for the entire sector.
The current bearish pattern indicates a lack of strong upward momentum in the short term. For holders, managing risk effectively is crucial.