Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
- DOGE broke out of its downtrend line, but the rice was rejected into the horizontal resistance that was the old order block at $0.41.
- Price has pulled back, and it is now testing the downtrend line as support, whilst it's also sat on top of the horizontal support of $0.35 (which was prior horizontal resistance).
- It's pivotal that the price holds $0.35; otherwise, $0.30 will likely be tested, and beneath that, there's not a lot of support until around $0.20, so it's a really key level to hold.
- The key level for price to break out from is the $0.40 to $0.415 range. This would likely send the price back to the highs.
- The RSI has been range-bound and in a middle territory. However, currently, it is struggling to get above its moving average, meaning some downside might be possible.
Curious about DOGE's next move? Our DOGE price prediction offers a deep dive into market trends!
- Next Support: $0.35 (then $0.30)
- Next Resistance: $0.40 to $0.415Direction: Neutral
- Upside Target: $0.415
- Downside Target: $0.30
Cryptonary's take
Like BTC and the rest of the market, price action has been whip-sawing, and from a zoomed-out perspective, it's pretty boring. We'll ultimately wait to see how DOGE and its range resolves itself.But a BTC moves down beneath $100k, and that could spell pain for some of these ALTS/Memes. For now, though DOGE is in an ok spot, it just needs to hold these key horizontal supports.
If BTC can hold up, then it's possible we will see DOGE move up from its current support back to $0.40. That'll then be the testing point as to whether it can break out or not. But again, this is another that's hard to call and likely just dependent on which way BTC breaks.
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