According to a new technical analysis of the DD trade with X (former Twitter), Dogecoin (Doge) only moved into an important demand zone afterwards Experience a steep drop of 10% From former heights. The analyst suggests that the meme coin is ready at short notice Relaxation on new levels If the daily price applies low.
Dogecoin eyes recover after entering the demand zone
In the most recent price campaign, Dogecoin Range -Leez was determined, a liquidity passage was triggered, and Tap into a highly portraying zonewhere buyers are known to occur strongly. After Dogecoin touched this demand zone, she broke off at short notice bear structurecreate a higher high. This movement swelled out weak hands before they returned.
DD trade unveiled that the following Reversing of the Dogecoin Prize Had led to the formation of a statistically strong daily deep. The cryptocurrency also broke out a lower time frame structure and switched from a downward trend to one Upward trendSuggest short -term bullity.
Nevertheless, the larger market structure remains neutral bear, unless higher resistance breaks. At the moment, the price for Dogecoin is not yet against the level of resistance almost $ 0.235 to $ 0.24, whereby a significant liquidity pool, which is marked as “$$$” on the diagram, will probably attract sellers or trigger further purchase pressure. This is near the level of $ 0.23, in which Dogecoin was previously rejected.
The statistical panels at the end of the diagram offer insights into the probable Price behavior Based on historical patterns. According to the data, there is a low probability that around 16.5%will be revised or broken the current daily depth, which increases the likelihood of a bullish move.
In addition, the chances that Dogecoin will later form a new daily high. Historical data show that in about 88.6% of similar cases a new high forms. This supports the expectation that A Price Bounce is imminent.
The analyst forecast the price for the price of Dogecoin to $ 0.95
Expand further Dogecoins bullish viewBitcoinensus has divided A new analysis that predicts that the Meme coin is preparing for an explosive rally for USD 0.95. According to the new diagram, Dogecoin pursues a highly consistent and powerful Bull On the weekly time frame.
Each bull flag cycle consists of a strong upward impulse, followed by downward consolidation, which breaks the price to new heights. The first breakout triggered a 90% rally, the second led to an increase of 215%, and after the third a massive 440% top occurred.
Now Dogecoin seems to complete his fourth bull’s flag pattern and has just started to break out of the latest outbreak Consolidation phase. When the historical trend continues, Bitcoinensus predicts a potential price target of $ 0.95, which corresponds to an increase of 352% compared to its current market value of $ 0.21.
Selected picture of Unsplash, Diagram from Tradingview
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