After a significant upswing, the Dogecoin price displayed some weakness in the early trading hours as it stood rejected just below the crucial resistance levels. Conversely, the recent dump appears to be a good buying opportunity as the asset is primed to range high by more than 30% in the coming days.
The DOGE price flipped the support at $0.08 during the previous trading day after rallying by more than 15% after undergoing an extended consolidation for nearly a couple of months. Therefore, the recent price action led to the formation of the new demand zone extending from $0.07 to $0.08. However, the present-day rejection has hindered the rally while the demand zone is now an important level to be surpassed.
Therefore, the asset is likely to retrace to the same support levels around the $0.08 support zone and consolidate below the crucial trend line ahead. After an extended squeeze within these levels, the DOGE price is expected to explode which may result in an upswing beyond the $0.09 hurdle after a 10% upswing. However, the upswing may be extended beyond $0.1 in case of bullish reactions from the investors.
In the coming days, the Dogecoin price is expected to remain elevated and test the upper regions with a minimum upswing of 30%. Meanwhile, a slight correction back towards the demand zone could induce a catapult action back above $0.11 regions to test the upper resistance zone beyond $0.12 in the coming days.
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Source: https://coinpedia.org/price-analysis/dogecoin-flashes-buying-opportunities-primed-to-surge-beyond-0-1-very-soon/