{"id":30113,"date":"2024-12-20T20:00:42","date_gmt":"2024-12-20T20:00:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30113"},"modified":"2024-12-20T20:00:42","modified_gmt":"2024-12-20T20:00:42","slug":"dogecoin-price-and-its-weekly-golden-cross-why-the-crash-to-0-31-remains-natural","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30113","title":{"rendered":"Dogecoin Price And Its Weekly Golden Cross: Why The Crash To $0.31 Remains Natural"},"content":{"rendered":"

The entire crypto market has been riddled with a notable decline in the past 24 hours, led by Bitcoin\u2019s break below the $100,000 price level again. Dogecoin wasn\u2019t left out<\/a> of this decline, which saw its price crashing by almost 15% and eventually reaching below $0.31. However, technical analysis suggests that this price decline is very natural in Dogecoin\u2019s current trajectory. This technical analysis offers a silver lining for Dogecoin enthusiasts, as it frames the pullback as a natural phenomenon within the broader ongoing bull cycle.<\/p>\n

Weekly Golden Cross And Its Implications For The Dogecoin Price<\/h2>\n

Crypto analyst Kevin (Kev_Capital_TA) took to the social media platform X to highlight the significance<\/a> of Dogecoin\u2019s weekly golden cross amidst the ongoing market downturn. According to Kevin, Dogecoin experienced a weekly golden cross back in early November<\/a>, coinciding with the US election period.<\/a> Historically, such technical indicators signal strong bullish momentum to the upside. However, Kevin noted that the current pullback aligns with past patterns where Dogecoin underwent significant corrections following golden crosses.<\/p>\n

He pointed out that in previous cycles,<\/a> Dogecoin faced three separate 50% corrections on its path to conclude at a cycle top. This historical behavior provides context for the recent crash to $0.31<\/a>, which, according to Kevin, is a typical bull market pullback. He emphasized that this kind of retracement is not only expected but also essential for maintaining the market\u2019s bullish structure.<\/p>\n

Support Levels And The Golden Pocket Zone<\/h2>\n

Kevin\u2019s technical analysis further looks into Dogecoin\u2019s key support levels that could determine the meme coin\u2019s next move. To get these support levels, he outlined the macrostructured support zone<\/a> and the golden pocket, which is a Fibonacci retracement zone widely regarded as a strong support area. Based on his assessment, a 45% correction from Dogecoin\u2019s recent high would align with these levels and could set the stage for a resumption of the uptrend.<\/p>\n

With that in mind, the recent Dogecoin price high is just around $0.48, a price point that it achieved in early December. Should Dogecoin tap into this golden pocket zone without closing below the $0.26 level on a weekly basis, this should be enough to keep the bullish market structure intact. However, breaking below support at $0.26 could spell trouble for Dogecoin, and cause a shift in its price trajectory in the broader trend.<\/p>\n

At the time of writing, Dogecoin is trading at $0.3179, marking a steep 12% decline in the past 24 hours and an even more significant 22% drop over the past seven days. This recent decline places Dogecoin at its lowest level since early November, breaking below the $0.35 threshold for the first time in over a month. Nevertheless, the $0.26 support level will remain a focus in determining whether Dogecoin\u2019s bull run is still valid.<\/a><\/p>","protected":false},"excerpt":{"rendered":"

The entire crypto market has been riddled with a notable decline in the past 24 hours, led by Bitcoin\u2019s break below the $100,000 price level again. Dogecoin wasn\u2019t left out of this decline, which saw its price crashing by almost 15% and eventually reaching below $0.31. However, technical analysis suggests that this price decline is […]<\/p>\n","protected":false},"author":0,"featured_media":30114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30113"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30113"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30113\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30114"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}