According to Trader Tardigrade (@TATrader_Alan), Dogecoin (DOGE) recently found strong support in the Fibonacci 0.382 to 0.5 retracement zone, as indicated by a wick on the H4 chart and a subsequent rebound. This technical support level is often watched by swing traders for potential bullish reversals, which could lead to increased trading activity and potential price momentum in the short term. Monitoring price action at this critical zone may provide actionable signals for day traders and investors seeking to capitalize on intraday or swing movements. Source: Twitter (@TATrader_Alan, May 16, 2025).

According to WallStreetBulls, using the Fibonacci tool between the nearest swing low and swing high can help traders identify critical buy and sell zones in the cryptocurrency market. Specifically, the golden ratio level 0.618 (or 1.2250 if inverted) serves as a powerful decision point—prices below this level indicate a potential sell zone, while prices above suggest a potential buy zone. This concrete technical strategy is widely adopted for its simplicity and effectiveness in crypto trading, as cited by WallStreetBulls on Twitter (source: twitter.com/w_thejazz/status/1919716445413335533). Traders can leverage these levels to optimize entry and exit points, improving short-term and long-term trade outcomes.