• Dogecoin price has confirmed a move above the supply barrier extending from $0.08980 to $0.09432.
  • The foray comes exactly ten years since Dogecoin was created, on December 6, 2013.
  • DOGE could extend the gains 6% to tag the enviable $0.10000.
  • Invalidation of the bullish thesis will occur upon a decisive daily candlestick close below the midline of the supply zone at $0.09198.

Dogecoin (DOGE) price has sustained the bullish outlook since October 18, when the broader market turned green, leading meme coins in an uptrend, which is no mean feat. The 65% climb has ushered the dog-themed cryptocurrency to its tenth birthday since its official launch on December 6, 2013.

Also Read:  Dogecoin Price Prediction: DOGE could hit $0.1 soon if this happens

Dogecoin price eyes 6% surge to $0.10000

Dogecoin (DOGE) price uptrend since October 18 saw the meme coin flip the first supply zone, stretching between $0.07687 and $0.08039 into a bullish breaker, and using it as a jumping off point for the next leap. As it happened, the price is attempting to do the same for the next supply barrier, ranging from $0.08980 to $0.09432, only this time, eyes are peeled on the area above $0.10000.

Despite DOGE being overbought, with the Relative Strength Index (RSI) at 74, there remains some upside potential as the momentum indicator remains northbound to show sustained bullish momentum. Similarly, the Awesome Oscillator (AO) remains in the positive territory with green histogram bars, evidence of bullish presence in the DOGE market.

Increased buying pressure above current levels, therefore, could see Dogecoin price flip the zone into a bullish breaker, as it extends the gains to the $0.10000 psychological level. Confirmation of such a move will be seen once the price records a decisive daily candlestick close above the $0.09198 midline.

In a highly bullish case, the gains could extend for Dogecoin price to tag the $0.10500 range high. Such a move would denote a 12% climb above current levels.

DOGE/USDT 1-day chart

On the flipside, early profit booking could see Dogecoin price get rejected from the supply barrier between $0.08980 and $0.09432. If this order block holds as a resistance level, DOGE could pull south, with a daily candlestick close below its midline at $0.09198 confirming a downtrend.

The ensuing landslide could send Dogecoin price lower, falling back into the fold of the ascending parallel channel. The bullish thesis will be invalidated upon a solid move below the $0.07889 midline of the first supply barrier turned bullish breaker. 


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.

Recommended content


Recommended Content

Editors’ Picks

COTI price surges on Central Bank of Israel CBDC project participation

COTI price surges on Central Bank of Israel CBDC project participation

COTI (COTI) price retraces by 1.2% at $0.1125 at the time of writing on Wednesday after breaking above a descending wedge pattern last Friday, leading to an 8% rally over the subsequent four days. 

More Cryptocurrencies News

Bitcoin price could react to potential clash between Kamala Harris and Donald Trump at July Bitcoin Conference

Bitcoin price could react to potential clash between Kamala Harris and Donald Trump at July Bitcoin Conference

Bitcoin price struggles around $66,000 on Wednesday. US spot Bitcoin ETFs experienced minor outflows on Tuesday, coinciding with the continued movement of Mt. Gox funds for repayment, which could exert downward pressure on Bitcoin's price.

More Bitcoin News

Solana hovers around $180, resists sell-off despite $22 million SOL transfer

Solana hovers around $180, resists sell-off despite $22 million SOL transfer

Solana whale transferred nearly 124,000 SOL tokens to Binance on Monday. The $22 million transfer could contribute to selling pressure on Solana, raising concerns among traders. 

More Solana News

PEPE price poised for a rally after retesting trendline support

PEPE price poised for a rally after retesting trendline support

Pepe price breaks out of the descending channel pattern, signaling a change in market structure from bearish to bullish. On-chain data shows that PEPE's Long-to-Short ratio is 1.66, suggesting a bullish bias.

More PEPE News

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.

Read full analysis

BTC

ETH

XRP