Is Dogecoin Hugely Undervalued? Analyst Says ‘Now Is The Time’

A video analysis recently released by the Crypto Asif.eth (@Sifeth) commentator claims that Dogecoin is currently exchanged for what calls a strongly underestimated level. He offered an explanation of why he believes that the correction in progress could have just ended: a process that has interpreted through a Wave Elliott lens and, more specifically, a corrective model ABC.

Dogecoin has finished its ABC correction?

In his discussion, the analyst described how dogecoin had shown a pronounced increase, after which he saw “the first correction A and subsequently we obtained a higher level B, higher … and then we got a correction of the type C “.

He suggested that this last “Cviva C” may have returned the token in a crucial support region, observing that “this could be ABC and the current correction is taking place with an RSI in the overpowering territory acquires signal. Although it has recognized the possibility to upset the waves, he claimed that the structure aims at a large corrective phase that could now approach the completion.

The key price region that identified the country from approximately $ 0.24 to $ 0.18, an area that has repeatedly called a “very, very good” place to accumulate dogecoin. It was reported to it as a “great offer turns to a large demand area”, observing that the token had previously launched the same interval between support and resistance several times.

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While trust in the bullish meaning of that area, he outlined $ 0.16 as a rigorous cut below which he would have come out of a Position of Dogecoin, affirming: “If in any case … break under $ 0.16, You have to sell that token “, because it is a drop below that level could invalidate the entire bullish setup. His point was that continuing to contain an altcoin below such a critical support could expose traders to deeper losses if the negative feeling suddenly accelerates.

He also supported his argument by indicating the so -called Fib gold pocket, measured by the one he described as the last important minimum of Dogecoin in August 2024 at the top of the following prices. By superimposing that retracement of Fibonacci with the same demand region of $ 0.24- $ 0.18, it has found coherent tests that the market sees this band as fundamental for the long-term structure of Dogecoin. He described it as “to align himself exactly with our best supply area”, explaining that the confluence like this – in combination with a reading of RSI Hyper -fought – increases the probability of a rebound of prices.

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Although the analyst said that Dogecoin’s “hype” factor has decreased, he interpreted that the lack of traditional speculation as a positive sign, claiming that “nobody sells dogecoin as hyper aggressively”, which could favor short -term stability. The feeling, in his opinion, could abruptly move once the traders realize that the currency has touched the correction of his ABC, especially if the wider market conditions become more favorable.

He concluded by reiterating the importance of looking closely these levels. He sees the $ 0.24– $ 0.18 corridor as a main accumulation area, sees $ 0.16 as a clear level of arrest in the event that the market breaks and believes that the action of dogecoin prices around To these thresholds will confirm whether the correction of the ABC is truly complete.

Remembering his own words, “Dogecoin seems very, very good and very, very obvious in this entire market”, urged the potential buyers to consider the relationship risked aboard the coin at a time when other traders, anticipating the end of the The so -called was of meme coins, they seem to neglect it.

At the time of the press, Doge exchanged $ 0.25.

First floor image created with Dall.e, graphic designer by tradingview.com