Dogecoin Price Skirts Potential Demand Zone, What Happens If It Hits Right?

After rallying above $0.3 at the start of September, the Dogecoin price has faced significant resistance since then, leading to an over 28% decrease in ￰0￱ Sunday, though, the Dogecoin price had begun to rebound, suggesting that there would be a rise in momentum, especially among ￰1￱ now puts the meme coin at a significant level, as there is the potential of the price bouncing off the current demand zone, but with bears still making a bid, the tug-of-war ￰2￱ A Bounce From The Demand Zone Means Presently, the most critical support for the Dogecoin price lies at the $0.229 level, as outlined by crypto analyst Lingrid, which the cryptocurrency has managed to hold over the ￰3￱ support level serves as confirmation that the Dogecoin price could continue its uptrend much farther than it did back in early ￰4￱ Reading: Dogecoin Is Sitting On A Powder Keg: Here’s The Explosion That Will Send Price To $1.3 The analyst also outlines a bullish formation on the chart, which is a completed triangle breakout ￰5￱ completion of the bullish pattern is what had led to the initial bullish impulse before the price began to correct downward ￰6￱ the correction, the Dogecoin price was observed to be testing the lower boundary of the triangle trading range.

However, with the price still holding above the critical support level, it could see a sustained break from ￰7￱ meme coin has already seen a recovery coming out of the weekend, suggesting that the $0.22 psychological level would hold completely through the uncertain market headwinds. Now, if the Dogecoin price is still able to hold this psychological level, then it could be the signal that crypto investors are buying heavily into the ￰8￱ the case of heavy buying, it could provide the needed push from the current demand level above $0.21. A leg-up from here would push it toward $0.25, where the next major resistance level lies for the digital ￰9￱ makes $0.22 a very important level as it is the target for the bears to break ￰10￱ Reading: Bitcoin Fear & Greed Index Crashes To Lowest Level Since March – Why This Is Good News This is because if the bears are able to push the price back down toward $0.22 and cause it to fall further, then the next target lies low at $0.18810.

This is the rebound level with demand, thus the price would have to get here before the can bounce ￰11￱ crypto analyst also explains that the current triangle pattern could fail its bullish impulse if the Dogecoin price fails to reclaim higher ground. Also, there is the possibility that the Bitcoin price could crash, taking the crypto market down with it and pushing the Dogecoin price toward further ￰12￱ image from Dall. E, chart from ￰13￱