In the dramatic reversal of Dogecoin (Doge) dropped from around 0.34 USD up to 0.20 USD, generating almost 40% of its value before it found initial stability of nearly 0.25 USD during the press. However, Alemzadeh’s “Coosh” cryptographic analyst participating A weekly Doge/USD chart and noticing “Doge: look really good here”, despite the recent confusion.

Why do dogcoin still looks stubborn

Unexpected news about the up-to-date Trump’s administration tariffs towards the main trading partners, such as China, Mexico and Canada on Friday, sent shock waves on financial markets, including cryptocurrencies. The message led to a wide sale of risk assets, and Dogecoin, known for high variability, especially affected. The fear of an escalating trade war weakened the trust of investors, pushing many to eliminate their positions in cryptocurrencies.

After announcing the Tariff, Dogecoin recorded an immediate and significant decrease within a few hours of breaking the message. At the weekend, the crash on the cryptographic market expanded as part of a larger market response, in which the main altcoins, such as XRP and Cardano, have also experienced two -digit percentage. The entire cryptocurrency market has wiped over $ 2.2 billion in the liquidation of cryptocurrencies.

The Alemzadeh chart, based on weekly time frames, shows that the Doge price initially broke above the descending red trend in October. This line acted as a key resistance zone reaching previous local ups, and the next retreat again led the market just below the trend line.

In parallel, Dogecoin is still set above the 30-week movable medium (30 W), which is deleted as a pink curve and is currently in the range of 0.20–, 22 USD. Analysts often believe that it closes above this average per week for the basic strength sign, which suggests that Doge can still maintain its stubborn structure if the market is above this threshold.

The chart also emphasizes the series of slimming and extension levels of Fibonacci, each of which offers insight into potential support and resistance. In the foreground there is a recovery of 0.618 Fibonacci around 0.2667 USD, which is a critical region in which the price is now floating. This level often draws the attention of traders who want to determine whether the market is in a standard pull or has started a deeper correction.

The next UP is located at a distance of 0.786 near 0.3467 USD. In addition, full withdrawal of around 0.4843 USD means a more distant goal should regain its stubborn shoot. Even more sublime extensions, indicated in the Alemzadeh chart in the amount of USD 1.27 (USD 1,618) and USD 2.30 (2.0), serve as hypothetical goals if the token reaches a earnest breakthrough.

An additional element is the marking of the Elliott wave, showing something that seems to be waves “1, 2, 3”, and then ongoing immersion marked as a wave “4” near 0.26 USD. In the classic wave theory, Elliott, four commonly penetrates to the zone 0.236–0,618 of the previous wave, so the current price effect on the 0.618 Fibonacci point fits this pattern well. If the dog confirmed the Wal Four support, the next phase – Fave five – can lead the market above the ancient ups, and the main goals amounted to USD 1.27 and USD 2.30 if the stubborn mood returns.

During the press, the dog traded for $ 0.25.

A distinguished painting created from Dall.e, chart from tradingview.com