Testing Key Supply Zone
DOGE recently broke a critical resistance level at around $0.33 to $0.34 and is currently trading around $0.42, showing a significant bullish momentum.
This breakout could indicate a shift in trend, with potential for further upward movement if key levels are respected.
🔑 Key Supply Zone (Order Block): The price is approaching a supply zone between $0.44 and $0.55, which could act as a significant resistance area.
This zone might induce a temporary correction or consolidation if sellers become active, leading to a potential pullback. If DOGE reacts to this zone, we may see a slight dip before any further upward move.
Potential Scenarios:
🟢 Bullish Continuation: Should DOGE manage to break above the $0.55 level, it could open the path toward higher targets, possibly aiming for the $0.72 resistance.
🔴 Temporary Correction: If DOGE encounters resistance at the $0.44-$0.55 zone, a minor correction could lead it back towards previous support levels, providing new buying opportunities for interested participants.
Note: This analysis is provided purely for informational purposes and should not be taken as a buy or sell signal.
This breakout could indicate a shift in trend, with potential for further upward movement if key levels are respected.
🔑 Key Supply Zone (Order Block): The price is approaching a supply zone between $0.44 and $0.55, which could act as a significant resistance area.
This zone might induce a temporary correction or consolidation if sellers become active, leading to a potential pullback. If DOGE reacts to this zone, we may see a slight dip before any further upward move.
Potential Scenarios:
🟢 Bullish Continuation: Should DOGE manage to break above the $0.55 level, it could open the path toward higher targets, possibly aiming for the $0.72 resistance.
🔴 Temporary Correction: If DOGE encounters resistance at the $0.44-$0.55 zone, a minor correction could lead it back towards previous support levels, providing new buying opportunities for interested participants.
Note: This analysis is provided purely for informational purposes and should not be taken as a buy or sell signal.
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