⭐⭐As of late, the $0.139 to $0.144 order block has been a stable support for the Dogecoin price⭐⭐
The cryptocurrency with a canine motif has the potential to reach new heights of $0.168 if the order block bounces.
If this order block were to break, DOGE's price may go below its recent low of $0.122.
The price of Dogecoin (DOGE) is now unable to go beyond two important levels. Doge also lacks a clear trend and is expected to remain in a range for the foreseeable future.
Along with the downturn seen in the wider cryptocurrency market, the price of dogecoin fell 45 percent from March 28 to April 13. But DOGE fell into consolidation after April 13 and is now attempting to regain its ground in order to declare a bias.
However, the cryptocurrency market, and Bitcoin in particular, must initiate a change for the Dogecoin price to rise or fall. Furthermore, in order for the dog-themed cryptocurrency DOGE to reach $0.168 and beyond, it must remain above the $0.139 to $0.144 order block, which may entice previously uninterested purchasers. As an example, the rising candlestick that developed on April 29 represents the $0.139 to $0.144 order block.
This change would result in a 17% increase. The overall profit, however, may reach 25% if DOGE were to target a retest of $0.181.
The upward potential of DOGE is expected to be limited above $0.181, the weekly resistance level, unless there is an improvement in the Bitcoin outlook.
Despite the rationale behind the positive thesis for Dogecoin pricing, a market shift in that direction is quite improbable. The equal lows set at $0.122 might be swept if DOGE breaches the $0.139 to $0.144 order block, which would cause the cryptocurrency to plummet by 12% to 15%. Although this would result in a 12% collapse, the meme currency could find stability at the $0.128 daily support level.