Dogecoin Faces Sell Signal as Key Fibonacci Levels Loom
1min read Crypto analyst Charting Guy has issued a warning to Dogecoin investors, advising them to sell their holdings if certain Fibonacci retracement levels are not broken in the coming months. This caution comes at a time when Dogecoin is trading around $0.20, reflecting a significant weekly decline.
Charting Guy has identified several key Fibonacci retracement levels that could determine the future of Dogecoin. These levels range from 0.0 to 1.618, with notable points including the 0.382 Fib around $0.1397, the 0.50 Fib just above $0.1997, the 0.618 Fib near $0.2677, the 0.702 Fib around $0.33, the 0.786 Fib around $0.43, and the 1.0 Fib near $0.76. If Dogecoin fails to break through the 0.702 or 0.786 Fib levels by late April or early May, Charting Guy plans to sell a majority, if not all, of his holdings.
Charting Guy's personal thesis suggests that a major top for Dogecoin could occur in late April or early May, regardless of whether the price reaches $0.30, $0.40, or even $1.00. He also highlights a potential key low in March 2026, emphasizing that this prediction is based on his analysis and not made up.
Part of this analysis involves a potential repetition of what Tony "The Bull" Severino refers to as the "XRP 2021 fractal," where XRP remained largely range-bound and failed to push to new all-time highs during its specific cycle phase. Severino originally drew parallels last October, warning that Dogecoin might follow a similar pattern to XRP, trading sideways at a similar point in its market cycle.
However, analyst Sun disagrees with this comparison, arguing that Dogecoin's movement is not specifically mimicking XRP. Sun notes that most coins have shown similar movements, citing other altcoins such as ADA and HBAR, which have both halted around the 0.618 Fibonacci retracement or lower. Charting Guy remains open to the idea of 