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Bitcoinist 2025-03-21 23:00:23

Analyst Says Dogecoin Is In ‘No Trade Zone’, Here Are The Major Support And Resistance

Analyst Says Dogecoin Is In ‘No Trade Zone’, Here Are The Major Support And Resistance

Crypto analyst Crypto VIP has revealed that the Dogecoin price is in a no-trade zone. His analysis also revealed the major support and resistance levels to watch out for as the foremost meme coin continues to trade sideways. Dogecoin Price Trading In A No Trade Zone In an X post , Crypto VIP stated that the Dogecoin price is currently in a no-trade zone. He noted that after a downtrend, DOGE is now trading within a range . The analyst added that a break out of this range will determine the next movement. As such, he believes that it is better to wait for a break above the resistance area or a retest of the support area before making any new entries. Crypto VIP mentioned $0.143 to $0.149 as the support area to watch out for and $0.176 to $0.187 as the resistance areas to watch out for. His accompanying chart showed that DOGE could face another major resistance between $0.23 and $0.24 if it breaks out from the $0.187 resistance. Crypto analyst Ali Martinez seems more confident that the Dogecoin price will break out to the upside. In an X post, he asserted that DOGE will break out. Martinez remarked that a close outside $0.16 to $0.18 could trigger a 16% price move. His accompanying chart showed that DOGE could reclaim the psychological $0.20 price level in the process. Crypto analyst Master Kenobi stated that these days might be the last time that market participants see the Dogecoin price under $0.18, suggesting that a bullish reversal was on the horizon. His accompanying chart showed that the foremost meme coin would still rally to as high as $0.8, which would mark a new all-time high (ATH) for DOGE. The analyst also recently predicted that Dogecoin could hit $1 by June. DOGE Could First Retest $0.143 Support Level In an X post, crypto analyst Trader Tardigrade predicted that the Dogecoin price could first retest the $0.14 support level before any bullish reversal. Alluding to the daily chart, he noted that DOGE is giving out a bearish candlestick pattern, the Bearish Tweezer, with a false breakout at the $0.176 resistance level. In line with this, he remarked that it is more likely to move downward to test the previous support level of $0.143 again, potentially forming a sideways range between $0.143 and $0.176. For the Dogecoin price to break $0.176, the analyst remarked that it needs to build momentum with higher lows just below $0.176. At the time of writing, the Dogecoin price is trading at around $0.164, down over 3% in the last 24 hours, according to data from CoinMarketCap.

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