Dogecoin price is currently hovering on a critical support level a breakdown of which could lead to a steep correction but a bounce could trigger a new uptrend therefore investors need to be cautious as crypto markets have turned volatile due to the ongoing war between russia and ukraine btc crashed to 35 000 after news of russia launching attacks on ukraine emerged causing dogecoin and other altcoins to crumble as well dogecoin price tagged the 0.127

Support level thrice over the past three months giving rise to a bottom reversal pattern known as a triple bottom setup the third tag was supposed to result in a bullish move but failed to do so as a result of the flash crash due to russia v ukraine since doge has sliced through the 0.127

Support barrier there is a good chance this downswing will continue as new information continues to unfold investors can expect dogecoin price to crash 35 and fill the fair value gap by re-testing the 0.0745 support level this barrier is likely where the downside for dogecoin price is

Limited and where buyers have a chance to reassemble for a comeback regardless of the recent news if doge bowls can quickly recover above the 0.127 support level it could give the bullish outlook a semblance of hope a daily candlestick close above this hurdle will restart the uptrend and likely propel

The meme coin to the immediate weekly resistance barrier at 0.163 this move would constitute a 30 ascent and is likely where the upside is capped for doge bowls clearing this hurdle with substantialvolume could see dogecoin price make a run for the 0.194 hurdle bringing the total gain to 53 percent.