Dogecoin Analysis: Scenarios to Consider

In our previous Dogecoin analysis, we identified a potential reaction at an H4 supply zone—and that's exactly what happened. Now, the question is: what's next for DOGE?

Dogecoin (DOGE) price is approaching a crucial demand zone on the lower timeframes. This could lead to a move-up, but there are a few things to consider before entering.

Key Levels

H1 Demand Zone: $0.071 – $0.069

H1 Liquidity: $0.073

Dogecoin Price Analysis: Scenarios to Consider

After forming a bullish order block at the beginning of the week, Dogecoin price has continued moving down. As price approached the H4 supply zone that we discussed in our previous analysis, it reacted bullishly from it.

Now, zooming into the H1 timeframe, we can see that price has approached a key demand zone. This demand usually forms after a bullish move, and it acts as support for the price.

If price reacts bullishly from this demand zone, we could expect a move-up toward the liquidity left behind and previous highs. This would line up nicely with the bullish order block on the H4 timeframe.

However, if price breaks through this demand zone, we could expect DOGE to continue moving down to the next demand zone, which is around $0.065.

After breaking through the H1 demand zone, price approached the liquidity that was left behind on Monday. This liquidity is now acting as resistance for DOGE.

If price fails to break through this liquidity, we could expect a move down to the next demand zone, which is around $0.065. However, if price does manage to break through this liquidity, it could continue moving up toward previous highs.

Lower down, we can see another H1 demand zone, but this one is much larger. Entering this demand zone could mess with our risk-to-reward ratios, so it’s best to avoid it for now.

Instead, we will focus on the smaller H1 demand zone and the liquidity that price left behind on Monday. These two levels will be crucial for DOGE in the coming hours.

As always, be patient, wait for confirmations, and don’t force trades!