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- Dogecoin price prepped for a hefty price spike after it returns to $0.20<\/strong><\/li>\n
- Bullish divergence is present, suggesting a downside move is likely to terminate.<\/strong><\/li>\n
- Imperative that Dogecoin not close below the $0.15 value area.<\/strong><\/li>\n<\/ul>\n
Dogecoin price<\/a> continues to trade at the upper bounds of a capitulation zone \u2013 something it has done since the beginning of December. Despite the bearish nature of Dogecoin\u2019s price action, bears have been unable or unwilling to drive DOGE lower.<\/p>\n
Dogecoin price needs to hit $0.20 before it can rally to $0.35<\/h2>\n
Dogecoin price<\/a> has two primary scenarios coming up that could see it repeat the price action it experienced in early 2021. The first is a hypothetical long entry at $0.20, with a stop loss at $0.18 and a profit target at $0.35. This trade option would complete two objectives. First, it would confirm the breakout above a double-top. Second, and most important, it would convert Dogecoin back into a bull market after crossing above the current bear market trend line.<\/p>\n
The hypothetical long setup is invalidated if Dogecoin price<\/a> return to $0.155 before the entry. However, if a fall to $0.155 occurs, a capitulation move is undoubtedly on the horizon, with a possible move and flash-crash to the $0.09 value area.<\/p>\n
- Bullish divergence is present, suggesting a downside move is likely to terminate.<\/strong><\/li>\n
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