- Dogecoin price is at an inflection point, which could result in a 15% move in either direction.
- A swing high above $0.071 and a flip of this level into a support floor is likely to trigger a bullish move.
- Rejection at $0.071, followed by a breakdown of the low-time-frame support level at $0.062, could push DOGE lower.
Dogecoin price is consolidating within a range, which seems to have formed a smaller range of its own. Regardless of the coil up, DOGE is at an inflection point, suggesting its next move could be volatile.
Dogecoin price gets ready
Dogecoin price rallied 60% between June 18 and June 27, setting up a range extending from $0.049 to $0.078. This impressive recovery bounce topped as the momentum was exhausted and investors started to book profits.
As a result, DOGE retraced 20% and tagged the midpoint of the range at $0.063, forming a smaller range, extending from $0.062 to $0.071. If Dogecoin price flips the $0.071 hurdle into a support level, there is a good chance for this initial move to continue.
In this case, DOGE could tag the range high at $0.078 after a 15% rally or the high-time-frame resistance barrier at $0.082 for a 20% ascent.
DOGE/USDT 1-day chart
Regardless, investors need to note that the directional bias depends on how Dogecoin price reacts to the $0.071 level. A rejection at this level will indicate that the buyers are not in control and could likely result in a 15% retracement to the $0.049 to $0.057 daily demand zone.
This move does not necessarily snub the bullish case, but it will provide Dogecoin price and its buyers another chance to attempt a run-up.
However, a four-hour candlestick close below $0.049 will invalidate the bullish thesis for DOGE and trigger a further correction to $0.048.
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
Bitcoin 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.
Official Trump massive $300M token unlock spells doom
Official Trump ($TRUMP), the Presidential meme coin launched in January by the United States (US) President Trump family’s World Liberty Financial company, is in a precarious situation that could see volatility spike significantly.
How will President Trump's threat to Powell affect Bitcoin?
Bitcoin (BTC) traded above $84,000 on Friday as President Donald Trump slammed Federal Reserve (Fed) Chairman Jerome Powell for not cutting interest rates on time. Trump pointed to the European Central Bank (ECB) lowering rates by 25 basis points, urging Powell to do the same in the US.
Slovenia moves to impose 25% tax on crypto traders
Slovenia has become the latest European Union member state to crack down on untaxed crypto gains, unveiling a proposal to impose a 25% tax on personal profits from digital asset disposals starting in 2026.
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.