In the wave of the cryptocurrency market, the recent trend of Dogecoin (DOGE) has attracted the attention of many investors. According to XBIT analysis, Dogecoin has just entered the key demand zone. Although it has fallen sharply by 10% from its high point, XBIT (dex Exchange) analysts believe that it is expected to recover to a new level in the short term, provided that the daily price low remains unchanged.
Twitter : @XBITDEX
Historical data from CoinBet shows that Dogecoin's recent price action shows some positive signals. It hit a range low, which triggered a liquidity sweep that put Dogecoin into a high-demand zone. In cryptocurrency trading, the high-demand zone is where buyers actively intervene. Once it hit this zone, Dogecoin broke through its short-term bearish structure and also created a higher high. This process effectively swept away weak hands and pushed the price to reverse upward.
Further analysis from XBIT (DEX Exchange) shows that after the Dogecoin price reversed, a statistically strong daily low was formed. This change allowed Dogecoin to break through the lower time frame structure, prompting the market to shift from a downtrend to an uptrend, revealing a short-term bullish signal.
However, despite these positive factors, the overall market structure of Dogecoin remains neutrally bearish until it breaks through higher resistance levels. Currently, the price of Dogecoin has not broken through the resistance level near $0.235 to $0.24. XBIT (DEX Exchange) analysts said that this liquidity pool may attract sellers, thereby putting pressure on the price, but it may also trigger further buying pressure. this resistance level is close to $0.23 where Dogecoin was previously rejected.
Twitter : @XBITDEX
From a probability perspective, the subsequent development of Dogecoin is optimistic. The probability of the current daily low being touched or broken again is low, about 16.5%, which undoubtedly increases the possibility of a bullish trend. In addition, the probability of Dogecoin setting a new intraday high is high. According to the data from the Coin World Network, there is a probability of about 88.6% of new highs in similar situations.
The analysis shared by the analysts of XBIT (DEX Exchange) is more optimistic that Dogecoin will usher in an explosive rise, with a target price of $0.95. Looking back at the historical trend of Dogecoin, it has always followed a highly consistent and strong bull flag pattern. In the weekly time frame, each bull flag cycle includes a process of strong rise, decline, and consolidation, and then breaking through new highs. The previous breakthroughs triggered gains of 90%, 215% and 440%, respectively. Now Dogecoin seems to be completing the fourth bull flag pattern and starting to break through the consolidation stage. If the historical trend continues, it is very likely to rise 352% to $0.95 from the current market value of $0.21.
Twitter : @XBITDEX
At a time when Dogecoin is facing development opportunities, platforms like XBIT (DEX Exchange) provide investors with a safer and more convenient trading environment. It is not restricted by centralized institutions, and trading information is more transparent, allowing investors to participate in Dogecoin transactions more freely and seize the rebound opportunity in this key demand area. Whether it is the grasp of short-term price fluctuations or the expectation of long-term upward trends, XBIT (dex Exchange) will become an important platform for investors to explore the future value of Dogecoin.
Company: xbit limited
Contact：Rudy Divin
Email: xbitdex@gmail.com
Website: http://www.xbitdex.com
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