DOGE: The target is $0.3 but buyers need to keep $0.16
The correction has been going on for 2.5 months in the DOGE market. The price is steadily falling, after a fantastic growth in April-May without volumes. Sellers confidently keep their trend line, which we marked as a range on the chart. However, sellers do not try to take active actions. In the previous idea, we wrote that the best scenario for buyers is to continue consolidation and keep the mark of $0.18.
As we can see, buyers could not keep this mark and allowed sellers to test the important range of $0.16-0.165 for the third time. This range was tested at low volumes. The DOGEUSDT price bounced off of course, but without hints of stopping the downward trend. Buyers failed to break sellers’ trend range and, with a high probability, buyers will have to defend the range of $0.16-0.165 again.
A retest of this range will allow investors to aggressively buy DOGE with a target of $0.3. Though, analyzing the desire of buyers to form their own trend, there is a possibility that sellers will be able to break the range of 0.16-0.165 and continue falling to $0.12-0.125. In such a case, it would be a wonderful range for globally buying DOGE for several months.
It is safe and conservative to buy DOGE after the test of $0.22 and keeping $0.18.
In this case, sellers’ trend will be broken and buyers will prove that they are ready to keep the DOGEUSD price.
Analyzing the DOGEBTC chart, we see that the price has gone beyond the global triangle:
However, the price exited the triangle without aggression, on low volumes. In addition, the DOGEBTC price is above the important liquidity zone of 0.00000475-0.00000540. From this range, buyers carried out a new wave of growth in April.
Therefore, at the moment for us the main scenario is a retest of $0.16-0.165 with a possible false breakout of this range. After that, we expect the formation of a new sharp growth wave with an final target of $0.3.
An alternative scenario is a fall of the DOGE price to the range of $0.12-0.125. However, this requires the BTC price to update its low.
Link hints at growth prospects towards the target of $35
Today to your attention an overview of the LINKUSDT pair and possible scenarios for the future
After the high of $53, there was a crypto market drain in May, which collapsed the LINK price by -70% to $15.00. The drain was so strong that the previous high of about $20 didn’t even stop the price fall.
In June 2021 the fall confirmed there is a group of buyers willing to buy LINK at $15.00.
In recent days, it was still possible to push the LINKUSD price below $15.00 to $13.50, but this happened on weak volumes. That is, the stops of those who gained for $15.00 were not affected. Or were they bought by investors who enter the position with a grid from strong levels and without stops, with expectations that there is a strong growth ahead?
For this assumption to be confirmed, buyers should not let the price fall below $12-13.
It is there that the intersection of a strong level and a dynamic channel is located, from which, according to history, growth began earlier.
The growth path can be of two types:
1) Without rollback (white) with the upper target about $34
2) With corrections (blue): $13 – ($18.5-19.50)-$14 – ($24.50-26)
Here it will be necessary to follow the market, what dynamics it will move.
If the BTC price continues to fall below $28,000, then it is very doubtful that the Linkchain token price will be kept in the zone of $12-13.
Below this zone, the target for buying in long is $8.20-8.80.