According to a new technical analysis of DD trading on X (formerly Twitter), Dogecoin (Doge) has just moved into an important demand zone after experiences a steep decline of 10% from previous heights. The analyst suggests that the MEME coin is ready for a short-lived recovery to new levels If the daily price was low.
Dogecoin Eyes Rebound after entering the demand zone
The latest price action saw Dogecoin establish reach, trigger a liquidity sweep, and Tap into a high demandWhere buyers are known to go in vigorously. After touched this demand zone, Dogececoin broke his short -term Baiss structureCreate a higher height. This movement swept out weak hands before turning upwards.
DD trading revealed to subsequent Reversing in the Dogecoin Prize had led to the formation of a statistically strong daily low. Cryptocurrency also broke a lower time frame structure and switched from a downward to one upward trendSuggests short -lived Hausse.
Despite this, the larger market structure remains neutral -bearing unless higher resistance breaks. At present, the Dogecoin Prize is not yet to break the resistance levels close to $ 0.235- $ 0.24, where a significant liquidity pool, marked as “$$$” on the chart, is likely to attract sellers or trigger additional purchase prints. This is close to $ 0.23 level, where Dogecoin was previously rejected.
The statistical panels at the bottom of the diagram provide insights on the probable Price behavior Based on historical designs. According to the data, there is a low probability, about 16.5%, that the current daily flame will be reviewed or broken again, which increases the odds for a haus -like feature.
In addition, the chance that Dogecoin will form a new daily height later high. Historical data shows that in about 88.6% of similar cases is a new high form. This supports expectations that a Price bouncing is imminent.
Analysts predict Dogececoin Price Rebound to $ 0.95
Further expand Dogecoins Bullish OutlookBitcoinsensus has shared A new analysis that predicts that the Meme coin is on its way to an explosive rally to $ 0.95. According to the new diagram, Dogecoin has followed a very consistent and powerful Bull flag pattern on the weekly time frame.
Each bull flag cycle consists of a strong upward pulse followed by a downward consolidation, after which the price goes to new heights. The first breakout triggered a 90% rally, the second led to a 215% force and a massive 440% nail occurred after the third.
Now Dogecoin seems to complete its fourth bull flag pattern and has just begun to break out from the latest Consolidation phase. If the historical trend continues, Bitcoinsensus predicts a potential price case of $ 0.95, which corresponds to an increase of 352% from its current market value of $ 0.21.
Image from Unsplash, charts from TradingView
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