Dogecoin Price Prediction: DOGE lacks volatility to make its next move

Dogecoin price has broken out of an immediate supply zone but lacks momentum to stay above it.
Bollinger Bands have tightly wrapped around DOGE, creating a no-trade zone ranging from $0.284 to $0.253.
If the demand zone’s lower trend line at $0.227 is breached, a correction could ensue.

Dogecoin price action reveals fleeing investors as hype fades away, at least until they come back in hordes. For now, DOGE is stuck inside a void that lacks volatility, but an upside move out of this zone seems likely.

Dogecoin awaits volatile burst

On the 4-hour chart, Dogecoin price shows a series of candlesticks whose returns are 5% or less for the past three weeks. Such price action shows a lack of investor interest in the meme coin, and the declining volume confirms this.

Dogecoin price moved out of a demand zone’s upper trend line at $0.269, suggesting a bullish bias. However, it is still contained between the 50 and 100 Simple Moving Averages (SMA) at $0.284 and $0.244, respectively.

The Bollinger Bands indicator has tightly enveloped Dogecoin price, suggesting a departure in volatility. A move out of the upper band at $0.284, coinciding with the 50 SMA, could signal an upswing’s start and the reentry of volatility.

In such a case, market participants could expect DOGE to surge 12% to $0.319, the 50% Fibonacci retracement level. If the buyers pile up, another 40% ascent to $0.448 is possible.

DOGE/USDT 4-hour chart

However, if the buyers fail to step up, leading to a breakdown of the 100 SMA at $0.244, Dogecoin price will likely revisit the support barrier’s lower band at $0.227. If DOGE trades below this level for an extended period, the bullish scenario will face invalidation.

Additionally, such a move would trigger a 10% drop to $0.206.

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