Coinworld News Report:
Dogecoin has a bearish market structure within a higher time frame. Liquidity below $0.1 may attract prices before a reversal occurs.
Since hitting a low of $0.0913 on July 5th (Friday), Dogecoin has rebounded by 20%. After the recent bloodbath, most cryptocurrencies have experienced relief rallies, but not all cryptocurrencies are able to sustain upward momentum.
Price predictions for Dogecoin suggest that it may struggle to maintain this momentum. Instead, due to weak buyers, the price may consolidate or decline.
Bulls are closely holding onto the $0.1 mark.
Dogecoin has fallen below the March lows, erasing all gains from the second half of the month. In the south, the region between $0.0775 and $0.082 is the next demand zone.
Before the crazy rebounds in February and March, the price consolidated here for two months.
The daily RSI is below the neutral 50, indicating a firm bearish trend. The CMF reports +0.03, highlighting capital inflows into the market. However, buyers are likely not strong enough to reverse the recent losses.
The price prediction for Dogecoin remains bearish, but if the price can rise above $0.13 and defend it as support, this bias will change.
There are more reasons for investors to be frustrated with Dogecoin price predictions.
An analysis of the liquidity heatmap by AMBCrypto over a six-month retrospective period shows three different ranges of liquidity from $0.1 to $0.112.
Last week, they were all wiped out as meme coins rebounded and retested the resistance in this region.
Reality or not, here is the market value of DOGE in BTC terms.
The range of $0.0745 to $0.079 is the second closest range of liquidity. Given the market’s trend and proximity, it is likely to attract DOGE’s inclusion.
Once it is taken out, the price will be able to reverse freely and target the range of $0.18.
Disclaimer: The information provided does not constitute financial, investment, trading, or any other type of advice, and is solely the opinion of the author.
