The post Dogecoin Holds Key Support, Eyes Reversal Toward $0.2075 appeared on BitcoinEthereumNews.com.

TLDR: Dogecoin holds $0.1820, a key floor that could determine the next major market trend. A break above $0.2075 would confirm renewed bullish strength, analysts say. Fibonacci levels show deeper targets if support at $0.1820 fails to hold. Historical patterns suggest a third bottom may trigger Dogecoin’s next rally. Dogecoin’s recent price swings have left traders on edge. After peaking near $0.2875, it has dropped sharply into a deep correction.  Now, many are watching the $0.1820 level closely. This zone may decide whether DOGE begins its next move up or dips lower. Analysts say it is a critical turning point for the market. Veteran trader Matthew Dixon outlined a clear five-wave impulse that topped out at $0.2875. Each leg unfolded with textbook precision, ending with a pullback to $0.1820. He noted that this drop forms an ABC corrective pattern, a common setup in crypto price cycles. #DOGE likely saw a completed 5-wave impulse up to the $0.2875 top Wave 1: From ~$0.14 to ~$0.195Wave 2: Pullback to ~$0.18 (shallow and quick)Wave 3: Major leg from ~$0.18 to ~$0.26Wave 4: Correction to ~$0.22 (approx. 0.382–0.5 retracement)Wave 5: Final push to $0.2875… pic.twitter.com/z1CF9AC4Iz — Matthew Dixon – Veteran Financial Trader (@mdtrade) August 4, 2025 Dixon added that the C-wave has likely completed. He pointed to a 5-wave internal move within it, which often signals the end of a correction. If that holds true, DOGE could be preparing for its next push upward. Key DOGE Price Levels That Matter Dixon marked $0.2075 as a key confirmation zone. A strong break above that level may show that buyers are back in control. Until then, $0.1820 remains the floor that traders are defending. If DOGE fails to hold that support, Dixon warned of further targets. These include $0.1789, $0.1565, and in an extreme case, $0.1408.…

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Filed under: News - @ August 5, 2025 1:20 am