Dogecoin price is currently hovering on a critical support level, a breakdown of which could lead to a steep correction, but a bounce could trigger a new uptrend. Therefore, investors need to be cautious as crypto markets have turned volatile due to the ongoing war between Russia and Ukraine.

BTC crashed to $35,000 after news of Russia launching attacks on Ukraine emerged, causing Dogecoin and other altcoins to crumble as well. 

Dogecoin price needs to re-establish directional bias

Dogecoin price tagged the $0.127 support level thrice over the past three months, giving rise to a bottom reversal pattern known as a triple bottom setup. The third tag was supposed to result in a bullish move but failed to do so as a result of the flash crash due to Russia v. Ukraine.

  • Dogecoin price has set up a triple bottom pattern at $0.127, indicating a trend reversal.
  • A breakout from the declining trend line leading to a retest of $0.163 will constitute a 30% gain.
  • However, a daily candlestick close below $0.127 will create a lower low, invalidating the bullish thesis for DOGE.

Dogecoin price is currently hovering on a critical support level, a breakdown of which could lead to a steep correction, but a bounce could trigger a new uptrend. Therefore, investors need to be cautious as crypto markets have turned volatile due to the ongoing war between Russia and Ukraine.

BTC crashed to $35,000 after news of Russia launching attacks on Ukraine emerged, causing Dogecoin and other altcoins to crumble as well. 

Dogecoin price needs to re-establish directional bias

Dogecoin price tagged the $0.127 support level thrice over the past three months, giving rise to a bottom reversal pattern known as a triple bottom setup. The third tag was supposed to result in a bullish move but failed to do so as a result of the flash crash due to Russia v. Ukraine.

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