The Dogecoin price has reached a major point on the charts, ticking around $0.24 in the Imbalance Zone (IMB). This area now represents a potential pivot point that could determine whether the popular meme coin bounces back to $0.27 or continues its decline. Analysts are watching the zone closely, suggesting this could be a make-or-break moment The short-term structure of Dogecoin.
Dogecoin price holds IMB zone as bullseye $0.27
Crypto Analyst ‘Blockchain Baller’ revealed on X social media Thursday that Dogecoin “tapped the IMB zone after a clean manipulation and structure break,” signaling the potential end of a correction phase. At the time, the analyst’s 4-hour chart showed DOGE hovering around $0.235 – $0.245 – an area that historically acts as a liquidity zone where price inefficiencies are often filled before a move emerges.
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Blockchain Baller argues that manipulation and structural breaks are both classic signs that the market could be prepare for a turnaround. The analyst notes that the price has reacted multiple times in the same region, demonstrating this buyers are getting on board to defend the zone.
The chart analysis also highlights the zone between USD 0.235 and USD 0.245 as the critical decision point for DOGE bulls. If the price returns to this level and holds as support, Blockchain Baller predicts a short-term recovery towards the $0.26 – $0.27 range. For a bullish confirmation, the analyst suggests that the price should break above the “short-term resistance” with increasing momentum.
For now, Dogecoin’s immediate path seems to depend on how it responds to the IMB zone. Blockchain Baller has indicated that a strong rebound could mark the start of another impulsive leg, while a dip below $0.235 could temporarily delay the recovery.
Dogecoin price targets $6 amid market decline
Over a broader time frame, crypto market expert Kaleo has done just that pointed out that Dogecoin’s market structure is gradually positioning itself for a major upward move. His long-term chart analysis draws striking parallels between DOGE’s current price action and the previous cycles that came before it Bitcoin halving event.
In the past, Dogecoin has consistently broken out over the long term descending triangles shortly after a Bitcoin halving, which led to explosive price increases. Kaleo’s chart shows that DOGE’s previous rallies of similar formations delivered gains of over 20,000% in 2021 and 30,000% in 2027.
Dogecoin price promotion currently reflects this exact setup, indicating that the price could be preparing for a historic move once again. If history repeats itself, Kaleo has set DOGE’s long-term target at $6.9, which represents an upside of 3,530% from current levels around $0.19.
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Interestingly, the analyst’s prediction comes just after a sharp daily crash saw Dogecoin drop around 60% at its lowest point. Market expert Kevin noted that the drop was too extreme to be caused by retail, indicating systemic exchange flaws at Binance, Coinbase and Robinhood, which temporarily limited buying during the dip.
Featured image from Unsplash, chart from TradingView