Dogecoin Price Prediction For May 13

The post Dogecoin Price Prediction For May 13 appeared first on Coinpedia Fintech News Dogecoin (DOGE) is circling a critical phase in its price structure, as recent price action suggests the formation of a potential B-wave correction following its rally from the April 7th low. Analysts are closely watching k ey support and resistance levels that could help understand the meme coin’s next big move. Dogecoin is currently down by more than 7% and is trading at $0.22 at the time of writing. Dogecoin’s Recent Price Action Since the April 7th bottom, Dogecoin has formed a clear three-wave move to the upside. While some initially speculated it could turn into a five-wave bullish structure, current price behavior leans more toward a diagonal pattern, making a completed five-wave scenario unlikely for now. The price recently reacted to a resistance zone identified in previous analyses, confirming the market’s sensitivity to these technical levels. Key Support and Resistance Levels to Watch The market is now poised for a B-wave correction, with several crucial support zones in play: Primary Support Range: $0.15 to $0.199 Intermediate Support Levels: $0.169 to $0.183 Analysts warn that if this pullback is indeed a B-wave, it must hold the $0.15 level to preserve the long-term bullish structure. A decisive drop below this threshold would weaken the scenario, increasing the risk of a deeper correction. What’s Happening Next? The recent rally into the target zone has likely completed a wave A within the larger ABC corrective pattern. A B-wave bounce could be forming soon, with traders advised to monitor resistance between $0.235 and $0.255. A clear breakout above this range would indicate stronger bullish momentum, while failure to do so may signal a setup for a final C-wave decline toward the support levels. Analyst Outlook: Correction Now, Opportunity Later For now, Dogecoin appears to be completing the initial leg of its B-wave correction. Once this bounce occurs, analysts expect a subsequent C-wave decline to follow, potentially offering fresh buying opportunities near support. Unless Dogecoin decisively breaks above the Sunday high of $0.26, this corrective structure remains the base case scenario, the analyst explained.

Source: coinpedia