#Doge
Trade now . . bull Run ๐ค๐ค๐๐๐โคโค
๐ฟ๐ค๐๐๐๐ค๐๐ฃ ๐๐ง๐๐๐ ๐๐ฉ ๐๐๐ ๐-๐ค๐ง-๐ฝ๐ง๐๐๐ ๐๐๐ซ๐๐ก ๐๐จ ๐๐๐ ๐ผ๐ฅ๐ฅ๐ง๐ค๐ซ๐๐ก ๐๐๐๐จ ๐ฟ๐ง๐ค๐ฅ ๐ฉ๐ค 75%
Dogecoin (DOGE) is at a make-or-break level after its entry into a major demand zone signaled that buy-side activity is about to rise again despite falling DOGE ETF approval odds. The mixed sentiment comes as Dogecoin price trades at $0.18 today, July 1o, after rising by 5% within 24 hours.
DOGE price has entered a demand zone, and this might be a major factor that helps drive the next upward rally. Looking at the historical data, it is clear that this demand zone has often attracted buying activity, and if it repeats previous moves, a strong upward rally or another rejection might happen.
The demand zone in question stands at $0.17, and Dogecoin will have to close above this level before the top meme coin can confirm an upward rally. However, the only way that DOGE can confirm that bullish traders are back in control is if the price can reach the Point of Control (PoC) line at $0.224.
The PoC line defines a zone where a lot of trading activity previously occurred, and if it is above the price, as it is now, it serves as a strong resistance. For it to confirm a shift from a bearish to a bullish Dogecoin price prediction, DOGE will have to make a firm close above $0.224.
The likelihood of such a rally happening is high considering two factors: the rising parallel channel and the upwards sloping RSI indicator. The channel shows that Dogecoin is in an uptrend, while the RSI at 51 also paints a bullish picture, considering that it has been sloping upwards.
To sum up, Dogecoin price appears to be close to making a strong breakout, but the direction that the meme token might take remains unclear, depending on whether the current demand zone will attract buyers. While a rally to $0.22 might be in the making, the drop in ETF approval odds indicates that DOGE might face headwinds.
