The Whales Are Intensifying Their Activity, Suggesting a Major Price Action Could Be Fast Approaching

Dogecoin is consolidating along the support of a decisive pattern, which suggests a major price action is fast approaching

Dogecoin (CRYPTO: DOGE) has been among the top-traded tokens, which has been attracting enough liquidity, and in turn, has kept the token volatile. Meanwhile, the latest price action has remained stuck within a narrow range, hinting towards a drop in the bullish and bearish pressures.

Dogecoin (CRYPTO: DOGE) has been among the top-traded tokens, which has been attracting enough liquidity, and in turn, has kept the token volatile. Meanwhile, the latest price action has remained stuck within a narrow range, hinting towards a drop in the bullish and bearish pressures.

While the spot market remains uncertain, the whales seem to be confident of the upcoming price action as they continue to transfer huge amounts of DOGE but without impacting the DOGE price rally. As per the data from a popular reporting platform, Whale Alert, an interesting transfer of over 478 million DOGE between two unknown wallets was reported. Another data from Santiment shows these whales have been on a selling spree since the first week of April.

While the spot market remains uncertain, the whales seem to be confident of the upcoming price action as they continue to transfer huge amounts of DOGE but without impacting the DOGE price rally. As per the data from a popular reporting platform, Whale Alert, an interesting transfer of over 478 million DOGE between two unknown wallets was reported. Another data from Santiment shows these whales have been on a selling spree since the first week of April.

Despite the growing selling pressure over the token, the trade setup suggests the Dogecoin (CRYPTO: DOGE) price is due for a major breakout, which may clear the path towards $0.2.

Despite the growing selling pressure over the token, the trade setup suggests the Dogecoin (CRYPTO: DOGE) price is due for a major breakout, which may clear the path towards $0.2.

Dogecoin Price Analysis: Short Term Neutral

Dogecoin (CRYPTO: DOGE) is now trading at $0.164 and is down by 0.47% over the last 24 hours, but it has risen by 10.36% over the last seven days. The token is currently ranging along the support of a decisive symmetrical triangle, while Stochastic RSI is seen at the upper edge.

Dogecoin (CRYPTO: DOGE) is now trading at $0.164 and is down by 0.47% over the last 24 hours, but it has risen by 10.36% over the last seven days. The token is currently ranging along the support of a decisive symmetrical triangle, while Stochastic RSI is seen at the upper edge.

On the other hand, MACD has turned bullish after the selling pressure was outpowered by a notable increase in the buying pressure. With this, the Dogecoin (CRYPTO: DOGE) price is expected to rise and test the resistance of the triangle. Meanwhile, the supporting volume has not yet registered, which may reduce the pace of the rally. However, a rise above $0.17 may validate a rise above bearish influence, and until then, the price is expected to remain in a consolidation phase.

On the other hand, MACD has turned bullish after the selling pressure was outpowered by a notable increase in the buying pressure. With this, the Dogecoin (CRYPTO: DOGE) price is expected to rise and test the resistance of the triangle. Meanwhile, the supporting volume has not yet registered, which may reduce the pace of the rally. However, a rise above $0.17 may validate a rise above bearish influence, and until then, the price is expected to remain in a consolidation phase.

Dogecoin Price Action

As the Stochastic RSI is seen at the upper threshold, the bears are trying to trigger a bearish crossover. The historical pattern suggests that the RSI could remain around the upper threshold for a while, which may help the price to keep up the bullish momentum.

As the Stochastic RSI is seen at the upper threshold, the bears are trying to trigger a bearish crossover. The historical pattern suggests that the RSI could remain around the upper threshold for a while, which may help the price to keep up the bullish momentum.

Dogecoin (CRYPTO: DOGE) is now trading at $0.163 and has dropped by 0.36% over the last 24 hours. The token is currently ranging along the support of a decisive symmetrical triangle, while Stochastic RSI is seen at the upper edge.

Dogecoin (CRYPTO: DOGE) is now trading at $0.163 and has dropped by 0.36% over the last 24 hours. The token is currently ranging along the support of a decisive symmetrical triangle, while Stochastic RSI is seen at the upper edge.

On the other hand, MACD has turned bullish after the selling pressure was outpowered by a notable increase in the buying pressure. With this, the Dogecoin (CRYPTO: DOGE) price is expected to rise and test the resistance of the triangle. Meanwhile, the supporting volume has not yet registered, which may reduce the pace of the rally. However, a rise above 0.17 may validate a rise above bearish influence, and until then, the price is expected to remain in a consolidation phase.

On the other hand, MACD has turned bullish after the selling pressure was outpowered by a notable increase in the buying pressure. With this, the Dogecoin (CRYPTO: DOGE) price is expected to rise and test the resistance of the triangle. Meanwhile, the supporting volume has not yet registered, which may reduce the pace of the rally. However, a rise above 0.17 may validate a rise above bearish influence, and until then, the price is expected to remain in a consolidation phase.

Minimum Levels To Watch

Dogecoin (CRYPTO: DOGE) prices may drop further to reach the minimum levels of support. The crucial support levels to watch are $0.15, $0.14, and $0.13. The coin could drop to these levels before bouncing back up.

Dogecoin (CRYPTO: DOGE) prices may rise further to reach the maximum levels of resistance. The crucial resistance levels to watch are $0.17, $0.18, and $0.19. Breaking above $0.17 may be crucial for the coin to continue its rally.