- Dogecoin trades on downtrend mode as it prepares a 20% surge towards $0.239.
- Magnified buying momentum will see the meme coin extending its run-up to $0.256.
- However, breaking beneath the $0.183 range low will cancel the bullish outlook.
Dogecoin price appears to head towards the price zone that exhibits high reversal probability. That confirms that the crypto might see an uptrend soon. The resulting upswing has chances of retesting the range high and moving past it to create higher highs. For that reason, meme coin enthusiasts should pay attention to DOGE’s current price levels as the coin screams “buy.”
DOGE Price to Form Higher Highs
DOGE saw its price increasing by 12% in the past six days, and the alt nears the trading range’s midpoint at $0.205. A fall under this price barrier might see DOGE trading lower towards the buy area that extends between $0.190 and $0.200.
A drop inside this zone might trigger amplified buying activity, catalyzing an upswing. In such a case, meme crypto fans can expect DOGE to retest the $0.277 range high. Nevertheless, market makers will target the liquidity beyond the swing high of $0,238. Retesting this level would translate to a 20% upsurge.
If the crypto sees massive bullish movements, DOGE may rise higher towards $0.256, translating to a 28% surge from $0.200. Meanwhile, if DOGE fails to stabilize above the highlighted buy zone ($0.190 – $0.200), it will confirm buyers’ weakness. Such a development will see Dogecoin dropping towards the range low of $0.183.
At this level, buyers would have a comeback opportunity with gathered strength. Nevertheless, a daily candle close beneath $0.183 will form a lower low, canceling the bullish picture.
While publishing this content, Dogecoin trades at $0.2090. At the same time, the global crypto market trade with mixed movements. Bitcoin battles to move higher after failing to challenge the obstacle at the $58,000 mark, hovering at $56,870.
The crypto space requires positive sentiments to trigger upside price moves. If Bitcoin gathers momentum to rise past the $60,000 psychological zone, the altcoin market will surge without hurdles. That can see DOGE hitting its targeted rise. Nevertheless, stay around for upcoming news.