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Dogecoin's Breakout from Compact Price Range Imminent Amidst Selling Pressure and Lack of Demand in Futures Market

The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. DOGE has been trading within a compact price range for the past three weeks, but a range breakout seems likely with Bitcoin experiencing a price correction.

The market structure for DOGE has been bearish since early April and a successful bearish breakout could see bears target the October 2022 low of $0.0582. Open Interest and the Spot Cumulative Volume Delta suggest a bearish sentiment in the market.

Bitcoin Bitcoin $92,097.12
-6.35%
DOGE Bitcoin
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