Dogecoin is showing strong signs of life once again, especially with the ongoing recovery of the general crypto market.
According to recent insights from analyst Ali Martinez, the closest focus for Dogecoin is the $0.17 resistance level.
According to insights from Javon Marks, Dogecoin could be ready to rally well beyond its previous ATH of $0.73, which was set back in May 2021.
If history repeats for Dogecoin, the next rally could see the memecoin soar up to the $0.22–$0.48 range.
The memecoin king is showing strong signs of life once again, especially with the ongoing recovery of the general crypto market.
Top analysts are now eyeing a possible breakout for Dogecoin, and according to some of the most vocal ones, if major support and resistance zones perform as expected, Dogecoin could be looking towards $0.29 in the near term.
But is this just another round of hype, or could Dogecoin really be preparing for a major rally?
Let’s see what the analysts are saying and some of the technical indicators that support their predictions.
Dogecoin Price: Major Price Levels to Hold
According to recent insights from analyst Ali Martinez, the closest focus for Dogecoin is the $0.17 resistance level.
The analyst pointed out that if DOGE successfully closes and holds above this mark, it might open a path for the next leg upwards.
This cryptocurrency, according to the analyst, can surge to $0.21 and then to $0.29.
However, Dogecoin’s journey isn’t just about resistance alone.
The memecoin must also continue to hold its major support levels around $0.13.
Last week, the cryptocurrency dropped below this zone before recovering once again and bouncing back to the $0.16 price level.
This bounce shows that there is some strong buyer interest in the memecoin, and an accumulation phase could be setting in.
At the time of Martinez’s post, Dogecoin was trading around the $0.1659 price level, only a few pennies short of the $0.17 breakout point.
This closeness to a breakout for Dogecoin could be what investors need for a massive jump to the upside.
$0.29 Isn’t the Final Stop
While $0.29 stands as Dogecoin’s short-term target, other analysts are more bullish.
According to insights from analyst Javon Marks in a recent update, Dogecoin could be ready to rally well beyond its previous ATH of $0.73, which was set back in May 2021.
The analyst believes that there is an ongoing possibility of a 200% to 330% price gain, especially if the market recovers as a whole and investors bring back their enthusiasm for memecoins.
Another analyst, Trader Tardigrade pointed out that Dogecoin has entered the fourth phase of a “Wyckoff Accumulation” pattern.
This phase is typically the final consolidation range before a breakout rally, and if this plays out as expected, Dogecoin could be on its way to a major upward recovery.
Technical Indicators Show Bullish Potential
An interesting pattern has emerged on Dogecoin’s daily and weekly chart.
As illustrated, there is an ongoing ascending trendline, which has acted as a springboard for the memecoin several times in the past.
As illustrated, the cryptocurrency rebounded off this support level in October of last year, eventually hitting a high of around $0.48 early in the current year.
Dogecoin is now trading above this trendline once again and if the pattern repeats, the next rally could see the memecoin soar up to the $0.22–$0.48 range.
In addition to this, the $0.38 price level has been interesting lately, considering its status as an area of liquidity.
This means that a large number of buy and sell orders now sit at this price level, and if Dogecoin manages to break above $0.22, a push towards $0.38 may not be far off.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions
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Dogecoin Rally Ahead? Key Levels Point to a 300% Surge Soon
Key Insights
The memecoin king is showing strong signs of life once again, especially with the ongoing recovery of the general crypto market.
Top analysts are now eyeing a possible breakout for Dogecoin, and according to some of the most vocal ones, if major support and resistance zones perform as expected, Dogecoin could be looking towards $0.29 in the near term.
But is this just another round of hype, or could Dogecoin really be preparing for a major rally?
Let’s see what the analysts are saying and some of the technical indicators that support their predictions.
Dogecoin Price: Major Price Levels to Hold
According to recent insights from analyst Ali Martinez, the closest focus for Dogecoin is the $0.17 resistance level.
The analyst pointed out that if DOGE successfully closes and holds above this mark, it might open a path for the next leg upwards.
This cryptocurrency, according to the analyst, can surge to $0.21 and then to $0.29.
However, Dogecoin’s journey isn’t just about resistance alone.
The memecoin must also continue to hold its major support levels around $0.13.
Last week, the cryptocurrency dropped below this zone before recovering once again and bouncing back to the $0.16 price level.
This bounce shows that there is some strong buyer interest in the memecoin, and an accumulation phase could be setting in.
At the time of Martinez’s post, Dogecoin was trading around the $0.1659 price level, only a few pennies short of the $0.17 breakout point.
This closeness to a breakout for Dogecoin could be what investors need for a massive jump to the upside.
$0.29 Isn’t the Final Stop
While $0.29 stands as Dogecoin’s short-term target, other analysts are more bullish.
According to insights from analyst Javon Marks in a recent update, Dogecoin could be ready to rally well beyond its previous ATH of $0.73, which was set back in May 2021.
The analyst believes that there is an ongoing possibility of a 200% to 330% price gain, especially if the market recovers as a whole and investors bring back their enthusiasm for memecoins.
Another analyst, Trader Tardigrade pointed out that Dogecoin has entered the fourth phase of a “Wyckoff Accumulation” pattern.
This phase is typically the final consolidation range before a breakout rally, and if this plays out as expected, Dogecoin could be on its way to a major upward recovery.
Technical Indicators Show Bullish Potential
An interesting pattern has emerged on Dogecoin’s daily and weekly chart.
As illustrated, there is an ongoing ascending trendline, which has acted as a springboard for the memecoin several times in the past.
As illustrated, the cryptocurrency rebounded off this support level in October of last year, eventually hitting a high of around $0.48 early in the current year.
Dogecoin is now trading above this trendline once again and if the pattern repeats, the next rally could see the memecoin soar up to the $0.22–$0.48 range.
In addition to this, the $0.38 price level has been interesting lately, considering its status as an area of liquidity.
This means that a large number of buy and sell orders now sit at this price level, and if Dogecoin manages to break above $0.22, a push towards $0.38 may not be far off.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions