DOGE price prediction: Is a 20% increase opportunity opening up?

Recently, Dogecoin (DOGE) has retested the support zone of $0.142 - the bottom of the trading range established since April. According to analysts, although DOGE had a strong bullish rally in May, this memecoin is still trading within a certain range and has not escaped the sideways zone.

Source: TradingViewOn the weekly timeframe, Dogecoin is maintaining a recovery structure, as evidenced by the Fibonacci levels drawn from the bottom to the peak of the last surge in 2024.

Although DOGE has not dropped below the bottom of $0.089, the internal structure (substructure) has a negative tone. To reverse the short-term trend to bullish, DOGE needs to break above the local peak of $0.259.

The OBV indicator has just returned to the low level from March, while the RSI indicator shows that the bears are still dominant in the market. The low trading volume in the last two months further indicates that the market is in an accumulation phase. Therefore, the price structure during the March-April period needs to be analyzed further.

Expand the price zone to clarify the Dogecoin price forecast

Source: TradingViewPreviously, the mid-range of the trading range (mid-range) was considered the peak level during the March–April period. After the breakout in May up to $0.259, the price of DOGE has reversed and touched the zone of $0.142.

When expanding the range zone, it can be observed that the previous peak level has become the mid-range zone, which has served as both support and resistance recently.

While the OBV is returning to the low levels of March, the CMF indicator shows that buying pressure is increasing significantly, with a measured result of +0.13. Therefore, although the moving averages may create temporary resistance, it is highly likely that DOGE will break out towards the supply zone of $0.2.

Source: CoinglassAccording to data from Coinglass, the 3-month liquidation map shows that the liquidity zone from $0.145–$0.162 has been wiped out. Currently, smaller liquidity clusters are forming around the $0.173 and $0.182 levels – potentially short-term targets if DOGE rallies.

In addition, the notable "price magnet" zone lies around $0.21, coinciding with the resistance level of the mid-range zone. With the above data, "swing traders" – those who typically hold positions for a few days to a few weeks to take advantage of price "waves" – may consider entering a buy order for DOGE, setting a stop loss at $0.154 and taking profit in the area of $0.198–$0.2.

Itadori