Dogecoin’s dilemma offers day traders opportunity to scalp DOGE

Dogecoin price is finding its footing as it tags the $0.139 to $0.144 order block. A bounce from the order block could push the dog-themed crypto to sweep the equal highs at $0.168. A breakdown of this order block could see DOGE sweep the equal lows at $0.122. Dogecoin price is stuck trading between two key levels. Additionally, DOGE has no directional bias and will likely continue its rangebound movement for the next few days.

-hour chart While the bullish thesis for Dogecoin price makes sense, it is unlikely the market moves that way. In some cases, DOGE could breach the $0.139 to $0.144 order block, triggering a 12% to 15% crash for the altcoin, leading to the sweep of the equal lows formed at $0.122. This move would constitute a 12% crash, but it is likely the meme coin could stablize around the $0.128 daily support level.

Source: Digital Coin News (digitalcoinnews.net)

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