The Trade Setup for the Next Doge Price Movement

DOGE is in a make-or-break situation right now because it is hovering just above a very important support floor. This could mean that the meme coin could make a comeback. Since early May, when DOGE reached a new all-time high, it has been making lower lows and lower highs, which is why it is now back at the $0.048 support level.

In the past, this area was important for DOGE because it gave bulls a place to stand still and get stronger in 2021. This, in turn, caused prices to go up by 1,400%. In other words, because DOGE is testing this level cloud again, there is a small jump.

Investors can expect DOGE to go up by about 41% to test the $0.082 resistance level again. If this barrier turns into a support level, the price could shoot up to $0.108, which would be an 85% bounce. Most likely, this is where the DOGE rally will end.

On the other hand, the bullish thesis for DOGE will be proven wrong if a three-day candlestick closes below $0.048. If this happens, bulls will have the chance to crash DOGE even lower and fill the Fair Value Gap (FVG) between $0.041 and $0.014.

This will ease the pressure on DOGE to go down, setting it up for a nice recovery.

CoinMarketCap says that the price of DOGE has gone up by 5.31% in the last 24 hours, making it worth $0.05808. When you look at the numbers for the past week, DOGE is down 1.47%.

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