Dogecoin (DOGE) Price Is Currently in a No-Trade Zone

Crypto analyst Crypto VIP has revealed that the Dogecoin price is in a no-trade zone. His analysis also revealed the major support and resistance levels to watch out for

Crypto analyst Crypto VIP has revealed that the Dogecoin price is in a no-trade zone. His analysis also revealed the major support and resistance levels to watch out for as the foremost meme coin continues to trade sideways.

Dogecoin Price Trading In A No Trade Zone

In an X post, Crypto VIP stated that the Dogecoin price is currently in a no-trade zone as it is trading in a "downward channel" and has now formed a "trading range". The analyst added that a break out of this range will decide the next movement. As such, he believes that it is better to wait for a break above the resistance area or a retest of the support area before making any new entries.

Crypto VIP mentioned $0.143 to $0.149 as the support area to watch out for and $0.176 to $0.187 as the resistance areas to watch out for. His accompanying chart showed that DOGE could face another major resistance between $0.23 and $0.24 if it breaks out from the $0.187 resistance.

Crypto analyst Ali Martinez seems more confident that the Dogecoin price will break out to the upside. In an X post, he asserted that DOGE "will breakout".

Martinez remarked that a "candle close" outside $0.16 to $0.18 "could trigger a 16% price move". His accompanying chart showed that DOGE could reclaim the psychological $0.20 price level in the process.

Crypto analyst Master Kenobi stated that these days might be the last time that market participants see the Dogecoin price under $0.18, suggesting that a bullish reversal was on the horizon. His accompanying chart showed that the foremost meme coin would still rally to as high as $0.8, which would mark a new all-time high (ATH) for DOGE. The analyst also recently predicted that Dogecoin could hit $1 by June.

DOGE Could First Retest $0.143 Support Level

In an X post, crypto analyst Trader Tardigrade predicted that the Dogecoin price could first retest the $0.14 support level before any bullish reversal. Alluding to the daily chart, he noted that DOGE is giving out a bearish candlestick pattern, the Bearish Tweezer, with a false breakout at the $0.176 resistance level.

In line with this, he remarked that it is more likely to move downward to test the previous support level of $0.143 again, potentially forming a sideways range between $0.143 and $0.176. For the Dogecoin price to break $0.176, the analyst remarked that it needs to build momentum with higher lows just below $0.176.

At the time of writing, the Dogecoin price is trading at around $0.164, down over 3% in the last 24 hours, according to data from CoinMarketCap.