Dogecoin price could rally to $0.20, here’s why



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Tony M. Tony M.
FXStreet

Dogecoin price is never a digital asset to fully count-out. Infamously known for its erratic countertrend spikes, DOGE price has potential for one more rally if the technicals are correct. 
Dogecoin price could see a rotational shift to the upside, likely to throw many traders off guard. The overall macro thesis remains as Dogecoin price coiling within a triangle formation. The invalidation for the triangle resides at $0.2109. The current Dogecoin price trades at $0.1360, which leaves 50% of uncharted territory for the bulls.
Analyzing the recent sell-off, the DOGE price appears to be consolidating under a shallow volume, which is a good sign for Doge investors. Traders reading this thesis are asked to understand this is a high trade setup as trading within triangles is exceptionally challenging. Still, the ideal situation is an additional upswing to $0.1792 to justify the recent upswing on April 09th.
TM/DOGE4.29.22
DOGE/USDT 8-Hour Chart
Invalidation of the bullish countertrend move is a break below $0.1064. If the bears breach this level, the Doge triangle idea would be void. The bears could push the price back into the historical trend line at $0.09, resulting in a 30% dip from the current Dogecoin price. 
 

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Bitcoin price shows signs of exhaustion after retesting a major hurdle. This development could result in a correction if bulls can’t make a comeback. Ethereum price, despite the Merge narrative, remains correlated to BTC and could tumble if the big crypto does.
Ripple witnessed massive growth in On-Demand Liquidity related sales. Despite the ongoing legal battle with the SEC, the payment giant continued its expansion and partnerships. Analysts have revealed a bullish outlook on XRP. 
Tezos price has been consolidating for quite some time and shows clear signs that it is ready to move higher. Investors can hop on this train for a quick gain as bulls align and take control.
AVAX price looks ready to trigger a run-up as it creates stable launching pads. This development comes after Avalanche bulls have managed to produce a string of higher lows and higher highs since June 19. 
Bitcoin has overcome the 200-week SMA and 30-day EMA, denoting a major surge in bullish momentum. As a result, BTC could revisit anywhere from $25,000 to $30,000 soon. A daily candlestick close below 200 four-hour SMA at $21,117 will invalidate this bullish thesis. 
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