Fun

Dogecoin Is Setting For A Massive Leg Higher – Analyst Sees Bullish Consolidation Above Key Level

News Feed - 2025-01-30 03:01:55

Este artículo también está disponible en español.


Dogecoin (DOGE) has been in a short-term downtrend for the past two weeks, shedding over 29% of its value since hitting a local high on January 18. The meme coin has faced consistent selling pressure, mirroring broader market uncertainty. However, this downtrend may be nearing its end as DOGE approaches key demand levels that have historically supported price recoveries. Related Reading Bitcoin Finally Turns $100K Into Support – Ready To Rally Higher? 1 day ago


Top analyst Scient shared a technical analysis on X, highlighting that Dogecoin is setting up for a massive leg higher. According to Scient, DOGE is currently consolidating above the 1-day support level while also finding strong support at the 1-day 100 EMA. This signals a potential reversal as buying pressure starts to build at these critical levels.


If Dogecoin manages to hold this support and push higher, it could signal the start of a fresh rally, with traders eyeing the next key resistance levels. A confirmed breakout from this consolidation phase would likely drive renewed bullish momentum and attract more investors back into the market. Dogecoin Holds Above Key Demand 


Dogecoin is trading at a key demand level around $0.32, and the next few days will be crucial in determining its short-term direction. Market sentiment remains volatile, with many analysts calling for a further decline as uncertainty grips the broader crypto market. The downtrend that started on January 18 has put pressure on DOGE, and traders are watching closely to see whether it can hold its current levels or break lower.


Despite the bearish sentiment, top analyst Scient shared a technical analysis on X suggesting that Dogecoin may be gearing up for a massive rally. According to Scient, DOGE is currently consolidating above the 1-day support while also finding strong support at the 1-day 100 EMA. These levels have historically been key turning points for Dogecoin, and their ability to hold could indicate that buyers are stepping back in. Dogecoin setting up for a massive leg higher | Source: Scient on X


Scient also pointed out that lower support levels exist, with strong lows at $0.262 coinciding with the 1-day 200 EMA. These zones, according to Scient, present good opportunities for spot accumulation. He remains bullish as long as DOGE holds above these levels, cautioning that a close below the 1-day 200 EMA would be the only truly bearish signal. Related Reading Ethereum Poised To Test $2,800 Support Level If Market Downtrend Persists – Analyst 2 days ago


For now, Dogecoin remains at a pivotal point. If it maintains support and breaks higher, a strong rally could follow. However, if the price fails to hold key levels, further downside could be on the horizon. Investors and traders are closely monitoring whether this consolidation phase will turn into the next major uptrend for DOGE. Price Action Details: Critical Levels


Dogecoin is currently trading at $0.32 after experiencing days of selling pressure and negative market sentiment. The meme coin has struggled to regain bullish momentum since its sharp decline from the January 18 high of $0.43. Now, DOGE is at a crucial level, and bulls must step in to prevent further downside. DOGE testing key demand | Source: DOGEUSDT chart on TradingView


For DOGE to stay in a strong position, the price must hold above the $0.30 mark. This psychological level has acted as a key demand zone in the past, and losing it could lead to a sharper correction. If bulls manage to maintain support at this level, the next major challenge will be reclaiming $0.35. A breakout above this resistance could reignite bullish momentum and set the stage for a strong recovery. Related Reading Bollinger Bands Tighten On XRP Daily Chart – Major Price Move Ahead? 2 days ago


However, failure to defend the $0.30 level could expose Dogecoin to further declines. In this case, the next major demand zone sits around $0.25, representing a 20% drop from current levels. This level also coincides with the 1-day 200 EMA, which has historically acted as strong support. If DOGE drops that low, it will likely trigger increased accumulation, but for now, all eyes remain on its ability to hold above $0.30.


Featured image from Dall-E, chart from TradingView

News Feed

Savannah Fortis10 hours agoCoinbase vs SEC court dates confirmed for initial case argumentsA judge in New York has approved a joint request from the SEC and Coinbase to settle dates for opening briefs and all subsequent
El Salvador to Buy Bitcoin Every Day Starting Tomorrow, President Says
El Salvador to Buy Bitcoin Every Day Starting Tomorrow, President Says El Salvador will start buying bitcoin every day, according to Salvadoran President Nayib Bukele. Since adopti
Jack Dorsey’s Block announces development of ‘full Bitcoin mining system’
Turner Wright4 hours agoJack Dorsey’s Block announces development of ‘full Bitcoin mining system’The Block — then Square — CEO initially suggested the idea of a collaborative approach to decentralize Bitcoin mi
Bitzlato Executives Arrested in Europe, Exchange Laundered €1 Billion, Europol Says
Bitzlato Executives Arrested in Europe, Exchange Laundered €1 Billion, Europol Says European law enforcement authorities have detained four more members of the team of crypto exc
Prashant Jha10 hours agoCanadian MP urges community to study Bitcoin, cites Gensler’s pre-SEC stanceLightbound disclosed he owns Bitcoin himself and advocates for people to study it.2383 Total views20 Total sharesListe
Turner Wright7 hours agoCaroline Ellison blames Sam Bankman-Fried for misuse of FTX user funds at trialReports have suggested the former CEO of Alameda Research and SBF had largely been out of contact following the colla
70 Million DOGE Make Their Way To Binance Amid 10% Dogecoin Price Crash
Este artículo también está disponible en español. Whale Alert, a prominent crypto and blockchain tracking platform, has spotted a massive DOGE deposit amid the Dogecoin p
Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players
Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players Okx, one of the largest cryptocurrency exchanges in the market, has announced the lau
Derek Andersen2 hours agoGaining speed on tokenization is vital for UK’s financial future, banking group warnsUK Finance says it’s not too late for the United Kingdom to make up for other jurisdictions’ faster star
Australian court rules against Qoin issuer BPS Financial on 4 charges
Derek Andersen5 hours agoAustralian court rules against Qoin issuer BPS Financial on 4 chargesQoin still has a class-action suit pending against it in addition to the case brought by regulator ASIC.506 Total views2 Total
BIS: 9 out of 10 Central Banks Worldwide Are Exploring Digital Currencies — Driven by Crypto Market
BIS: 9 out of 10 Central Banks Worldwide Are Exploring Digital Currencies — Driven by Crypto Market Nine out of 10 central banks globally are exploring central bank digital curre
Biggest Movers: XMR and SOL Higher on Monday
Biggest Movers: XMR and SOL Higher on Monday Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the bigg