Dogecoin (DOGE) Price Stalked By The Bears As It Tumbles Below $0.20 Support

The crypto market has seen some interesting moves recently, with Bitcoin price now very close to its new all-time high. However, other coins like Dogecoin price have been hit hard by the recent market drawdowns.

Dogecoin price is now in a perilous position as it pushes for a major support level that it must maintain to avoid a massive tumble.

Crypto analyst: Dogecoin price still bullish above trendline and support block

Crypto analyst Lingrid is highlighting where Dogecoin price sits on the chart and the levels that are going to be defining factors for the meme coin going forward.

Currently, the pullback in DOGE is unfolding as an ABC correction. But this pullback seems to be fizzling out, especially after the bears pushed the price back below $0.2.

Lingrid explains that Dogecoin price is still bullish despite this pullback, especially as the altcoin has put in a higher low on the ascending channel support. The $0.188-$0.190 zone is still important, and as long as this level is maintained, there is still bullish support for the meme coin.

In addition to this, Lingrid says that the Dogecoin structure remains bullish as the price is still above the trendline and support block.

The major thing now is for buyers to claim back control from the sellers for the bullishness to continue. In this case, a couple of buying zones have opened up between $0.187 and $0.19, and the Dogecoin price is right smack in the middle of this. Bulls only need to claim $0.195 with bullish confirmation for this to be complete, and then they can shoot for $0.215.

However, there is still the risk of the eradication of this bullishness if the Dogecoin price breaks down below the higher low. If it falls below $0.187, then the crypto analyst says this is a sell signal. Consolidation below $0.195 is expected to delay the breakout, and a Bitcoin price drop could weaken the entire structure.

Another crypto analyst warns of Dogecoin price support

Another crypto analyst, Stanley Crypto, is highlighting a lot of support that is still presenting itself for Dogecoin price.

Just like Lingrid, Stanley says that $0.18 and $0.19 are important levels for the meme coin to hold. This is the strongest support zone now as the price has flnalized.

This means that bulls have to maintain this level if there is to be any continuation of the bullish motion. "The setup suggests a potential uptrend with higher highs, but a breakdown below support may invalidate this move," Stanley concludes.