Dogecoin Price Skirts Potential Demand Zone, What Happens If It Hits Right? 🐶
After a rally above $0.3, Dogecoin price has faced resistance, leading to a 28% drop. Recently, it began to rebound, suggesting renewed momentum among buyers. Currently, Dogecoin sits at a significant demand zone, indicating possible price bounce. However, with bears still active, the situation remains uncertain.
The critical support level is $0.229, which has held firm over the weekend, according to analyst Lingrid. This support level suggests potential for continuing the uptrend. A short-term bullish formation has appeared, signaling a possible breakout, while Dogecoin's psychological level at $0.22 remains an important threshold.
If buyers push above this level, prices could reach $0.25, although bears may target a fall towards $0.18810. The present pattern could fail if Dogecoin doesn't rise further, and Bitcoin's performance could also impact its trajectory. The market's volatility hinges on these crucial levels and market influences.
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