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In our wave analysis on Dogecoin we warned bulls that price action suggested that another sell off was expected with a target below $0.41. Price has fallen all the way towards the 50% Fibonacci retracement of the entire upward move in Dogecoin. Price remains in bearish short-term trend as it continues making lower lows and lower highs.
Dogecoin so far made a low around $0.35 according to plan. Price has so far retraced 50% of the entire rise and there are still increased chances of a move lower towards the 61.8% Fibonacci retracement. So far there is no sign of a trend reversal and a confirmed low. A move above $0.54 will be the first reversal sign and the first step in confirming a major low. Until then bears are in control.¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.