- After a composed liquidity sweep, Dogecoin price is leading the sector with a recovery rally.
- DOGE could make a 30% move north if Bitcoin price strength sustains.
- A break and close below $0.1255 would invalidate the bullish thesis.
Dogecoin (DOGE) price has recorded heightened volatility this month, amid soaring correlation with Bitcoin. As the pioneer cryptocurrency navigated FOMO, capital flows due to the spot ETF market and recently the Fed meeting, DOGE price fluctuated by association.
Also Read: Dogecoin Price Prediction: DOGE refuses to let WIF have all the fun
Dogecoin could rally 30%
When Bitcoin price slumped to the $62,000 range in the aftermath of capital outflows from the ETF market, Dogecoin price plummeted to an intraday low of $0.1252 on Wednesday. The move saw DOGE price collect liquidity that resided in the sub-$0.1255 level.
With BTC now showing strength, Dogecoin price is on a recovery rally and could confront resistance due to the midrange of the market’s price action, marked by the 50% Fibonacci placeholder at $0.1663. A decisive candlestick close above this level could see DOGE price extend to the resistance at $0.1855.
The Relative Strength Index (RSI) reinforces the case for the bulls, bouncing atop the 50 level as part of a fluke rally. Increased buyer momentum could see Dogecoin price clear the stiff resistance at $0.1855, before a continuation to record a higher high above the March 5 peak of $0.2071.
DOGE/USDT 1-day chart
Conversely, early profit booking could see Dogecoin price drop to test the $0.1368 support. In a dire case, where this level fails to hold as support, the price could extend to the foot of the market range at $0.1255 before a potential recovery. A break and close below this level would invalidate the bullish thesis.
Also Read: Dogecoin soars nearly 20% after Coinbase announces listing of DOGE derivatives
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
Editors’ Picks
Ripple Price Forecast: Could open interest, buy signals, Coinbase Derivatives-backed XRP futures drive price to $3?
Ripple (XRP) edges higher on Monday, climbing 1.54% on the day to trade at $2.11 at the time of writing. Bulls have shown resilience and determination in the last week, upholding XRP above the $2.00 level.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC finally breaks out, ETH and XRP could follow
Bitcoin's (BTC) price broke above its key resistance level after facing multiple rejections around it the previous week. Ethereum (ETH) and Ripple (XRP) prices are approaching their key resistance levels; a breakout could signal a rally ahead.
Mantra shares buyback and 300M token burn details as CEO commits personal holdings
Mantra intensifies recovery efforts following a 90% price crash this week. CEO John Patrick Mullin commits personal holdings to the upcoming burn.
Arizona passes bill to create crypto reserve using public Treasury funds
Arizona is moving closer to creating a crypto-backed reserve as the state's Strategic Digital Assets Reserve Bill (SB 1373) advances, despite veto threats from the Governor over unrelated funding disputes.
Bitcoin Weekly Forecast: BTC holds steady, Fed warns of tariffs’ impact, as Gold hits new highs
Bitcoin price consolidates above $84,000 on Friday, a short-term support that has gained significance this week. The world's largest cryptocurrency by market capitalization continued to weather storms caused by US President Donald Trump's incessant trade war with China after pausing reciprocal tariffs for 90 days on April 9 for other countries.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.