Dogecoin Price Forecast Indicates Further Downside Risk What to Do Now

Bijie.com reported:
Dogecoin has a bearish market structure within a higher time frame. Liquidity below $0.1 may attract prices before a reversal occurs.
Since hitting a low of $0.0913 on July 5th (Friday), Dogecoin has rebounded by 20%. After the recent bloodshed, most cryptocurrencies have experienced relief rebounds, but not all cryptocurrencies can maintain their upward momentum.
Price predictions for Dogecoin suggest that it may struggle to sustain this momentum. Instead, due to weak buyers, prices may consolidate or decline.
Bulls are holding onto the $0.1 level tightly.
Dogecoin has fallen below the March low, wiping out all the gains from the second half of that month. In the south, the region from $0.0775 to $0.082 is the next demand area.
Before the crazy rebounds in February and March, the price consolidated here for two months.
The daily RSI is below the neutral 50, indicating a firmly bearish trend. The CMF reports +0.03, highlighting capital inflows into the market. However, buyers are likely not strong enough to reverse the recent losses.
The price prediction for Dogecoin remains bearish, but if the price can climb above $0.13 and defend it as support, this bias will change.
There are more reasons that frustrate investors in Dogecoin price predictions.
An analysis of the liquidity heatmap by AMBCrypto over a six-month retrospective period shows three different ranges of liquidity, from $0.1 to $0.112.
Last week, they were all wiped out as meme coins rebounded and retested the resistance in this region.
Reality or not, here is the market value of DOGE in BTC terms.
The range of $0.0745 to $0.079 is the second closest liquidity range. Considering the market’s trend and proximity, it is likely to attract DOGE to join.
Once it is cleared, the price will be free to reverse and target the range of $0.18.
Disclaimer: The information provided does not constitute financial, investment, trading, or any other form of advice and is solely the opinion of the author.