- Dogecoin has its price steady beyond the demand zone at $0127 – $0.137, hinting at upswings.
- Enthusiasts might expect a 35% from Dogecoin to $0.194
- A daily candle close below $0.127 will print a lower low, invalidating DOGE’s bullish narrative.
Dogecoin price hints at price surges as the original meme coins steadies beyond a critical support area. The sideways actions will likely lead to an exponential upsurge that overcomes immediate obstacles.
DOGE Price Ready for Breakout
Dogecoin saw its price gain 40% between 13 March and 28 March, setting a swing high around the $0.153 value area. The explosive surge formed a demand area (stepping stone) that propelled the uptrend higher.
This foothold stretches between $0.127 and $0.137. Moreover, DOGE hovers beyond this territory at this publication. Further consolidation beyond this area is vital in catalyzing a bullish action for Dogecoin.
That will see the crypto towards the nearest blockade at the weekly resistance at $0.163, then $0.194. Overpowering these hurdles will clear the road for market makers to propel Dogecoin beyond $0.194 to gather buy-stop liquidity beyond the zone. Such a development will trigger a local higher pattern and likely cap further upswings from the altcoin.
That would translate to a 50% ascent from DOGE’s current level – $0.144. Market players will likely book profits after the highs, translating to retracements.
Despite the bullish narrative for DOGE from a technical view, a sudden Bitcoin crash might lead to downswings. That would see the original meme coin resorting to downswings.
However, a daily candle close beneath $0.127 will form a lower low and annul the bullish case for DOGE. Such a development might translate to more plummet in Dogecoin towards the support level at $0.109.
Meanwhile, Dogecoin trends will depend on the overall crypto market sentiment. For now, the global crypto market capitalization reflects bearishness, standing with a 0.20% 24hr loss at $2.14 trillion.
Moreover, Bitcoin lost ground overnight, trading with a 0.06% daily loss at $46,148.52. BTC has to maintain beyond $46K for near-term bullishness. Plunging beneath this barrier will trigger downswings in alts, including Dogecoin.
Stay tuned for crypto news.