Recently, top assets in the market, including Bitcoin and Ethereum, began trading in the green zone following news that the ongoing trade feud between the US and China will soon end. The meme coin sector was not left behind in the uptrend as top meme coin, Dogecoin surged past the $0.18 mark. Interestingly, our professional analyst’s analysis of Dogecoin’s price chart on the higher timeframe suggests that Dogecoin bulls are still charging the market as a god candle pumped the coin price by over 14% during the recent uptrend.
However, for Dogecoin bulls to snatch control from the bears, they must break past a bearish order block around the $0.19-$0.206 region, which confluences with a previous high. Meanwhile, if the bulls fail to conquer the bearish order block, the bears will step in and push dogecoin’s price downwards, invalidating the bullish thesis. However, if the bulls break past the rejection zone, we expect dogecoin to surge to the $0.25 region, where there is another key resistance wall with bears waiting to push its price downwards.
Meanwhile, the Dogecoin price chart on the lower timeframe also says the same thing as the higher time frame, with the bearish order block being the next key factor in determining the meme coin’s next trajectory. Interestingly, top crypto analyst Ali Martinez also shared a bullish thesis on Dogecoin price, speculating that the meme coin is gearing up for a surge to the $0.195 mark. Martinez revealed the prediction on his X page, suggesting that several other top analysts expect Dogecoin to move upward. However, we wait to see who will prevail in the bear and bull contest. According to data from Coingecko Dogecoin has briefly retraced to the $0.179 mark and ranks 8th in the crypto market.
Disclaimer:
Our market analysis is solely for academic purposes and not trading signals, readers should always do their own research before investing in any cryptocurrency.
