Share:

 

  • Dogecoin price is still following the bearish thesis 
  • DOGE price has printed lower highs progressively 
  • Invalidation is a close above $0.15

Dogecoin price still struggles to reclaim grounds as the price is currently submerged at $0.1366. Traders should consider the macro thesis before making a longterm investment.

Dogecoin price doesn't have much appeal 

Dogecoin price is coiling into a very tight range, likely to steer traders away from the notorious meme coin. Currently, the DOGE price trades at the lower end of this week's range and could retest the lows at $0.1337 established on Monday. 

Dogecoin price macro thesis remains as an unfolding descending triangle until proven otherwise. The DOGE price could continue coiling as the weeks progress and make lower highs and higher lows. The volume profile does not indicate much volatility in the market, so even small scalps can become rather challenging.

TM/DOGE.4.22.22

DOGE/USDT 4-Hour Chart

Invalidation of the bearish thesis is a close above $0.15. If the DOGE price can rally into the $0.15 pivot high, the bulls could conquer more territory into the $0.18 region resulting in a 30% increase from the current DOGE price,


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Kraken to launch US-listed stock and ETF trading services after $30 million SEC settlement

Kraken to launch US-listed stock and ETF trading services after $30 million SEC settlement

Kraken has indicated plans to diversify, with intentions to leverage the first-mover advantage towards ETF. Meanwhile, the crypto markets continue to appeal to the US SEC for a nod amid a long pile of applications already on the financial regulator’s desk.

More Cryptocurrencies News

Ethereum Futures ETF to roll out by first week of October: Bloomberg ETF analyst

Ethereum Futures ETF to roll out by first week of October: Bloomberg ETF analyst

While spot Bitcoin Exchange Traded Funds (ETFs) approval has been a matter of controversy in the United States, Ethereum Futures ETFs' might not be. The Securities and Exchange Commission (SEC) is most likely to approve the trading of ETH ETFs in the next seven days.

More Ethereum News

Chainlink price might face a correction before it can climb back to 2023 highs

Chainlink price might face a correction before it can climb back to 2023 highs

Chainlink price has performed exceptionally over the past couple of days, making room for profits for investors. However, further gains from here on would warrant a market cooldown before the rally can continue.

More Chainlink News

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: BTC, ETH, XRP at catch 22 moment

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: BTC, ETH, XRP at catch 22 moment

Bitcoin (BTC) price is trying to lead the rest of the market into recovery. However, it faces a key obstacle, same case for Ethereum (ETH) and Ripple (XRP) positioning the top three cryptocurrencies in a muddle. 

More Bitcoin news

Bitcoin: BTC downside likely after 20-week EMA culls bulls

Bitcoin: BTC downside likely after 20-week EMA culls bulls

Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.

Read full analysis

BTC

ETH

XRP