Dogecoin price It shows new strength after the recent market tremor. According to cryptocurrency analyst, Parrot, the popular coin Can prepare For a major breakout movement after recovering from its recent decline, forming a strong market structure. Parrott believes that with patience and proper planning, traders may soon see the next big push that could bring Dogecoin closer to its previous highs.
Analyst Parrot identifies key setup for Dogecoin price’s next move
In his article on XAnalyst Parrott provided a detailed analysis of how Dogecoin will behave yet The last big liquidation event. Despite the heavy sell-off, the analyst says Dogecoin’s price has recovered strongly and shown real resilience in the market. After this recovery, the price expanded upwards before moving into a consolidation phase.
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This period, according to Barot, is not random. This is where the market gathers strength, forms its structure, and creates what he calls a “liquidity zone” around $0.19319.
He explained that the liquidity zone is crucial because it shows where weak traders have exited the market and where smart traders may be preparing for the next big move. Parrott said he plans to enter his trade around the four-hour order block at $0.19065, setting a stop loss at $0.18606 and Profit making goal At $0.21823. He believes that Dogecoin’s price structure gives it a clear entry area and helps control risk. The analyst added that the area around $0.19319 could act as a magnet for price action, meaning the market may sweep this area before reacting higher.
The market structure and risk profile indicate potential upside for Dogecoin price
Parrott also stressed that understanding structure, liquidity, and risk is key to trading Dogecoin right now. He explained that his setup has a high reward-to-risk ratio, meaning the potential profit is strong compared to the limited downside. Instead of rushing into trades, Parrott said he is doing so Monitor the chart Waiting for price confirmation. In his view, the current cryptocurrency market is not ideal for long-term holding, so it makes sense to focus on it Short and medium term movements With clear settings.
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By maintaining a tight stop loss and waiting for the market to show its direction, Parrott aims to trade safely while still taking advantage of potential gains. If the trade goes as expected, Dogecoin price could move towards $0.21823, which could then open the door to… A greater march towards All-time high of $0.7.
Baarut’s Dogecoin price analysis reflects growing optimism among analysts who see the meme token building a base for a potential breakout. His emphasis on patience and having a clear structure demonstrates how strategic planning can take place Next Dogecoin price action One to watch closely.
Featured image created with Dall.E, chart from Tradingview.com
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