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Dogecoin (DOGE) has just completed its second significant correction of the current bull cycle, closely resembling its previous market structure. The recent pullback aligns with DOGEs historical trends, particularly its 2017 price movement, suggesting that the meme coin may be gearing up for its next major leg upward. If Bitcoin (BTC) stabilizes, Dogecoin could be […]
Dogecoin is trading at critical supply levels as the broader crypto market begins to show signs of life. Over the past few weeks, DOGE has faced significant volatility and uncertainty, with the price dropping to lower demand zones. This period of turbulence has left analysts divided on its next move. Some predict a bearish continuation, while others anticipate a swift reversal driven by renewed market interest. Related Reading: Cardano Echoes 2020-2021 Pattern Is A Parabolic Rally On The Horizon? Top analyst Bluntz has weighed in on Dogecoin’s price action, sharing a technical analysis that suggests a potential bullish setup. According to Bluntz, DOGE is forming an Adam & Eve bullish pattern on the 4-hour time frame. This pattern, characterized by a sharp “V” bottom followed by a rounded “U” bottom, is often a precursor to a breakout to higher levels if confirmed. This technical structure has given hope to investors who expect DOGE to recover and potentially lead the meme coin market higher. However, much will depend on whether Dogecoin can hold key levels and gain the momentum needed for a breakout. As the market continues to stir from its recent slumber, DOGE’s price action could provide critical insights into the next trend for the crypto space. Dogecoin Price Hints At Recovery Dogecoin is currently trading at key supply levels, attempting to reclaim critical price points to confirm the start of a recovery rally. Analysts are increasingly optimistic, calling for a potential breakout as the intense fear that gripped the market earlier in February begins to fade. Dogecoin, often considered the leader of the meme coin sector, is in the spotlight, with investors closely watching its next move. Related Reading: Ethereum Whales Have Bought Over 600,000 ETH In The Past Week Time For A Price Upswing? The meme coin market, which has faced significant hate and criticism in recent months due to aggressive selloffs, now sees Dogecoin as a potential driver of a healthier phase. A DOGE recovery could signal renewed optimism and set the tone for other meme coins to follow. Top crypto analyst Bluntz shared an encouraging technical analysis on X, highlighting a bullish setup for Dogecoin. Bluntz stated, “Lots of nice Adam and Eve structures across the board are starting to break out here. Nice on DOGE, as it’s been nearly 2 weeks since the capitulation wick.” This observation refers to a classic bullish pattern, where a sharp “V” bottom is followed by a rounded “U” bottom, often signaling the potential for an upward breakout. Dogecoins ability to reclaim critical price levels and hold above them will be pivotal in confirming a sustained recovery rally. Should the bullish momentum continue, DOGE could lead the meme coin sector back into focus, restoring investor confidence in this unique niche of the crypto market. The coming weeks will be crucial in determining whether Dogecoin can establish itself as a market leader once again and drive a broader recovery across the sector. DOGE Testing Crucial Supply Dogecoin is trading at $0.27 after several days of volatility and sideways trading. The price has been ranging between $0.23 and $0.27, reflecting the uncertainty that has gripped the market in recent weeks. However, bulls are beginning to show signs of life, pushing DOGE toward key supply levels and signaling potential momentum for a breakout. If DOGE can reclaim the $0.305 mark in the coming days, it could pave the way for a massive recovery rally. This level is a crucial supply zone, and flipping it into support would provide a strong confirmation of a trend reversal, reigniting bullish sentiment across the meme coin market. On the flip side, if DOGE loses support at the $0.23 level, it risks falling into deeper correction territory. Such a move would likely signal that selling pressure is overwhelming buyer demand, potentially driving the price to test lower demand zones. Related Reading: Litecoin Approaches Daily Range Peak Can LTC Break Multi-Year Highs? For now, all eyes are on whether Dogecoin can break out of its current range and establish a decisive direction. The coming days will be critical in determining whether DOGE can maintain its upward momentum or face further downside as market participants look for clear signals of recovery or continued consolidation. Featured image from Dall-E, chart from TradingView
Dogecoin tests a critical liquidity area of around $0.112 after days of choppy price action. While the broader crypto market, led by Bitcoin, is experiencing a notable rise from yearly lows, driven by positive economic data and improving sentiment, Dogecoin has yet to catch up. Other altcoins and meme coins have surged, but DOGE remains in consolidation. Related Reading: Analyst Forecasts XRP Bullish Breakout A 1,000% Opportunity? Analysts and investors are closely watching for a signal that could confirm a further uptrend for Dogecoin. The funding rate indicates rising demand, which could support a potential price increase. Top analyst and investor Ali has shared an intriguing buy signal for DOGE, suggesting that gains may be on the horizon. As the market sentiment shifts, traders closely monitor whether Dogecoin will follow the broader crypto trend and break out of its current range in the coming days. Dogecoin Price Is Set To Rise Dogecoin is currently at a crucial level that will determine its price action, as DOGE has struggled to hold above this area since early August. Speculation around DOGE’s performance in the coming months is optimistic, yet Dogecoin must catch up with the gains other meme coins deliver to investors. Prominent analyst Ali has shared a technical chart on X, showing a buy signal for Dogecoin on the 4-hour price chart. This signal is significant because it appears in a shorter timeframe and often indicates a larger trend shift in the daily timeframe, suggesting a potential upside in the coming days. If this signal plays out, it could begin a stronger upward movement for DOGE. Supporting this optimistic outlook, key data from Coinglass reveals that the OI-weighted funding rate for Dogecoin is rising. A positive funding rate in cryptocurrency markets indicates that the price of perpetual futures contracts is higher than the spot price of the underlying asset. This means long positions are becoming more dominant, and long traders pay short traders a positive funding rate. This dynamic reflects increased demand for DOGE and hints at potential gains ahead. Related Reading: Solana Prepares For A 20% Rally Can SOL Reclaim $176? If Dogecoin can maintain strength above this critical level, it may finally follow the broader market’s uptrend. However, Dogecoin risks further consolidation or a potential drop if it fails to break above and sustain higher levels. For now, investors are watching closely, waiting for a confirmed move that could lead to significant gains for DOGE. DOGE Testing Supply: Breakout Soon? Dogecoin (DOGE) currently trades at $0.112 after several days of sideways trading below the daily 200 exponential moving average (EMA), which sits at $0.116. This level has acted as a key resistance, and breaking above DOGE must gain momentum. If the price manages to recover the 1D 200 EMA and push past the $0.13 mark, it could signal the start of a significant rally for Dogecoin. Such a move would likely reignite investor interest and attract new buying demand, potentially driving higher prices. However, if Dogecoin fails to hold above the $0.11 level and continues to struggle with the 1D 200 EMA, a deeper correction could be on the horizon. In that scenario, DOGE may retrace to lower demand areas around $0.09, where buyers might step in to prevent further downside. Related Reading: Active Dogecoin Addresses Reach Highest Level In 8 Months Is DOGE About To Rally? For now, Dogecoins price action remains in a tight range, and traders are watching closely to see if it can reclaim these critical levels or if a larger pullback is in store. The next few days will be essential in determining the future direction of DOGEs price. Featured image from Dall-E, chart from TradingView
Dogecoin (DOGE), the popular meme cryptocurrency, is currently facing turbulence in the market as it tries to maintain key support levels. Despite Bitcoin’s recent stabilization after a sharp crash, the broader crypto market remains in a neutral phase, leaving Dogecoin vulnerable to price fluctuations. Over the past week, DOGE has experienced a 16% drop in […]
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