- DOGE reacted to key demand levels but remains at risk of further downside
- The M5 demand zone is crucial—holding could trigger a bounce, but failure may lead to lower levels
- Waiting for confirmation before entering a position is the safest strategy in this uncertain setup
In our last DOGE analysis, we highlighted the liquidity zones both above and below the price.
As expected, DOGE swept the liquidity below, reacting to both the H1 demand and the M30 demand level.
But now, what’s next?
At the moment, DOGE has found itself at a crucial M5 demand zone, which could trigger another reaction to the upside.
However, considering the current bearish momentum, there’s also the possibility that price continues to slide downward.
This is where things get tricky. Right now, the risk-to-reward ratio doesn’t look ideal—there isn’t much liquidity nearby, making it difficult to anticipate where DOGE might go next. That’s why patience is key at this stage. Let’s break it down further.
DOGE Price Prediction: Demand Holding or More Downside?
1. DOGE Reacted to Key Demand Levels
DOGE initially found support at the M30 demand, but the price action remains uncertain. The next few candles will be crucial to determine if buyers can step in again.
2. Will the M5 Demand Hold?
The M5 demand zone is the next area of interest. If the price holds here, we could see another bounce. But if it breaks, lower levels could come into play.
3. Momentum Suggests Possible Further Downside
Given the strength of the recent downward move, DOGE could continue its bearish trend if buyers fail to defend the key demand levels. Monitoring volume and reaction at this zone is essential.
How to Trade DOGE in This Uncertain Market?
This isn’t the moment to rush into a position. With liquidity still unclear, it’s safer to wait for confirmation before making any moves. Whether DOGE will react bullishly or keep dropping depends on the next market structure shift.
If you’re looking for a crypto trading platform to trade DOGE and other altcoins, check out Weex. It offers advanced trading tools, deep liquidity, and a seamless trading experience.
Final Thoughts on DOGE Price Prediction
The market remains unpredictable, and while the M5 demand zone could hold, the overall trend suggests more downside unless strong buying pressure steps in. Patience and proper risk management are crucial in this type of setup.
Disclaimer: The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
