Dogecoin enters the demand zone after a 10% impact, will the rebound occur?
According to DD Trading’s new technical analysis on X (former Twitter), Dogecoin (Doge) has just entered the critical demand area 10% steep From previous highs. Analysts suggest meme coins are ready for short term Return to a new level If the daily price is low.
Dogecoin’s eyes rebound after entering the demand zone
Recent price action has allowed Dogecoin to establish range lows, triggering liquidity sweeps, and Explore high demand areasas we all know, buyers will intervene in a large amount. After touching this demand zone, Dogecoin broke through the short term Bearish structurecreate higher heights. This move swept away weak hands before turning upward.
DD Transaction reveal The following Dog price reversal This leads to a statistically strong daily low. Cryptocurrencies also break the lower time frame structure from falling to one Upward trendsuggesting a short-term bullish one.
Nevertheless, unless higher resistance breaks down, the larger market structure remains neutral. Currently, Dogecoin’s price has not violated the $0.235-$0.24 level of resistance violations, and on the chart there is a large pool of liquidity that may attract sellers or trigger further buying pressure. This is close to the $0.23 level, and Dogecoin was previously rejected.
The statistics panel at the bottom of the chart provides possible insights Price behavior Based on historical mode. According to the data, the probability is very low, about 16.5%, i.e. the current daily low will be re-examined or destroyed again, increasing the chance of bullish migration.
In addition, the chances of forming Dogecoin in the future are very high. Historical data show that in about 88.6% of similar cases, a new high form. This supports an expectation Price bounce is imminent.
Analysts predict that domycin will cost $0.95
Further expansion Dogecoin’s viewBitcoin has shared A brand new analysis predicts that meme coins are cheering for explosive rally to $0.95. According to the new chart, Dogecoin has always followed a highly consistent and powerful Bull market pattern Within the time frame of each week.
Each Bull Flag bike cycle is from a strong upward urge, followed by a downward merger, after which the price explodes to a new high. The first breakthrough inspired 90% of the rally, the second breakthrough resulted in a 215% increase, and the third peak occurred after the 440% peak.
Now, Dogecoin seems to be completing its fourth bull pattern and just started to explode Merge phase. If the historical trend continues, Bitcoin’s potential target is $0.95, an increase of 352% from the current market value.
Featured images from Unsplash, charts for TradingView
Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.
