Dogecoin Pressing Range Highs Can Bulls Push DOGE To ATH?

Dogecoin experienced a modest rally yesterday, breaking past its local highs and reaching $0.484. The move excited the DOGE community, as the meme coin seemed ready for further gains. However, the price has since retraced slightly, failing to confirm a breakout above this critical resistance. Top analyst and trader Cheds shared his insights on X, revealing that Dogecoin is pressing against its range highs. According to his technical analysis, a confirmed breakout above these levels could set the stage for a significant rally, potentially driving DOGE toward new all-time highs. Related Reading: Large Ethereum Transactions Grow As ETH Breaks Yearly Highs While the recent price action has sparked optimism, the market remains cautious, with bulls needing to sustain momentum for any meaningful upside. Cheds highlights the importance of breaking above these critical resistance levels, emphasizing that a successful move could pave the way for DOGE to reclaim its bullish narrative. With Dogecoin at a crucial juncture, the next few days will determine whether the price continues to climb or settles into further consolidation. All eyes are now on the $0.484 mark as traders await confirmation of a breakout or signs of renewed selling pressure. Dogecoin Testing Key Levels Dogecoin is currently testing key liquidity levels around $0.44 and below the critical $0.50 mark, sparking intense interest among traders. These levels have acted as both support and resistance, making them crucial for determining DOGEs next significant move. Analysts believe a clear path to new highs will emerge if Dogecoin can break above these thresholds. Top analyst and trader Cheds shared a detailed technical analysis on X, highlighting Dogecoin’s ongoing battle with its range highs since November 24. Despite multiple attempts, DOGE has struggled to confirm a decisive breakout, which would signal the beginning of a new rally. According to Cheds, once the meme coin clears these key levels, a massive surge is likely to follow, potentially propelling the price to challenge its all-time highs for the first time since 2021. This outlook aligns with Dogecoin’s recent price dynamics, which show resilience despite broader market volatility. The upcoming days are critical as traders await whether DOGE can solidify its breakout and sustain upward momentum. Related Reading: XRP Price Forecast Analyst Sets $4 Target After Potential Retrace Breaking above $0.50 and holding that level for several days will catalyze Dogecoin’s rally. If bulls succeed, the market could witness another parabolic move, reviving the excitement that has historically driven DOGE to unprecedented highs. Last Level Of Supply Before A Rally Dogecoin is trading at $0.43 after weeks of sideways consolidation and repeated failed breakouts, leaving investors increasingly frustrated with its stagnant price action. Despite attempts to gain upward momentum, DOGE has struggled to surpass key resistance levels, and the lack of a decisive breakout is testing the patience of market participants. Currently, all eyes are on the $0.44 level, a critical threshold for Dogecoins price trajectory. If DOGE manages to hold above this level in the coming days, a breakout could finally materialize, potentially leading to a surge toward higher resistance zones and reigniting investor enthusiasm. However, the downside risk remains significant. Should Dogecoin fail to maintain its current levels, it could face a deeper retracement, testing lower demand zones as investors reassess their positions. This would likely dampen sentiment further, leaving the meme coin vulnerable to continued consolidation or even bearish pressure. Related Reading: Cardano Whales Keep Buying Price Holds Above Crucial Mark The next few days will be crucial for DOGE as the market awaits a clear directional move. Whether it secures a breakout or retreats to lower levels, Dogecoins performance in this range could set the tone for its price action heading into the end of the year. Featured image from Dall-E, chart from TradingView

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Dont Be Surprised If Dogecoin Hits $1 Or $2 In A Hurry, Says Crypto Analyst

Crypto analyst Cantonese Cat (@cantonmeow) suggests a scenario in which Dogecoin could reach $1 or even $2 relatively quickly. Posting on X, the analyst stated: DOGE closed 3 weeks in a row above 0.786 log fib, which makes higher prices possible; dont be surprised if it hits $1 or $2 in a hurry. Why Dogecoin Is Even More Bullish Than Last Cycle In a recent YouTube video, Cantonese Cat provided in-depth technical analysis, comparing Dogecoins current cycle to its previous historic run. The analyst highlighted that last cycle, the price faced rejection around the 0.786 Fibonacci level (log scale) before pulling back and consolidating at the 0.618 level for approximately four weeks. This time, however, Dogecoin appears to be sustaining price action above the 0.786 log Fibonacci level without a deeper correction. According to Cantonese Cat, So far were above the 0.786. Thats insane. It looks like it just wants to keep going up higher forming a very nice bull flag. Related Reading: Dogecoin Still In Consolidation Analyst Expects $0,63 If We Get A Breakout Reflecting on weekly Ichimoku Cloud signals and higher time frame indicators, the analyst emphasized that multiple technical factors appear aligned for further bullish momentum. If youre also just looking at like the weekly Ichimoku [Cloud], we broke through that convincingly, he explained. Referencing the monthly chart, he added, We broke through the monthly Cloud very convincingly and over here, for January 2021, we just broke through it in one stroke. Over here [last month] we broke through it in November, hit the 0.786 fib level here, got rejected and we broke through [the 0.786 in the first days of December]. Related Reading: Dogecoin Price Analysis: Ascending Triangle On 2-Hour Chart Shows DOGE Is Still Very Bullish The analyst also pointed out that, unlike the previous cycle, Dogecoin is not exhibiting a significant retrace before attempting higher levels: It doesnt even really want to have a big back test or anything. You got kind of close to back test of the monthly [Cloud], didnt really quite get there so all these are very bullish. Cantonese Cat believes Dogecoin may soon challenge its all-time high levels, citing a more bullish overall chart structure relative to the previous cycle. I think DOGE is going to make all-time highs relatively soon. Even the SuperIchi monthly is ready This is a fairly bullish chart, he remarked. The analyst referenced potential Fibonacci extension targets of $2.3 (1.414 extension) or even $4 (1.618 extension), underscoring that these levels, while seemingly high, remain theoretically on the table given current market conditions. Its kind of insane to think about because of the market cap, but so far I cant deny the way that this looks right nowit actually looks a little bit more bullish than last cycle. At press time, DOGE traded at $0.44. Featured image created with DALL.E, chart from TradingView.com

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Dogecoin Sees Quiet Breakout As Data Signals Rally Continuation

Dogecoin has finally surged above the crucial $0.48 resistance level, briefly reaching $0.484 before pulling back slightly. This marks a significant development for the meme coin, as it had struggled to break past this level for weeks. The move has sparked renewed optimism among traders and investors who see potential for further upside. Related Reading: XRP Price Forecast Analyst Sets $4 Target After Potential Retrace Key data from blockchain analytics firm Santiment highlights that Dogecoin, along with other meme coins, is experiencing mini breakouts this weekend. This trend suggests increasing bullish momentum in the meme coin sector, often viewed as a precursor to broader market rallies. The data indicates rising trading volumes and heightened on-chain activity, both of which point to sustained interest in Dogecoin. If this momentum continues, Dogecoin could be on the verge of extending its recent gains, with many market participants eyeing the $0.50 psychological level as the next target. A successful breakout above $0.50 could pave the way for even higher levels, further fueling the ongoing rally. However, failure to maintain its upward trajectory might lead to a period of consolidation. Dogecoin Sets The Stage For New Highs Dogecoin is positioning itself for higher prices as it continues its upward trajectory, but the latest breakout lacked the explosive momentum many anticipated. Despite pushing past critical levels, Dogecoin failed to sustain its price above the previous high, signaling a need for more significant buying pressure to maintain its rally. Blockchain analytics platform Santiment has shed light on the recent activity, revealing that meme coins like Dogecoin, Pepe, Dogewithhat, and Bonk are experiencing mini breakouts this weekend. According to their data, larger wallets, often referred to as “whales,” have been instrumental in driving up market caps for these coins. This trend is expected to continue until retail FOMO (fear of missing out) resurfaces, potentially pushing prices higher in the short term. However, the dynamics of meme coin markets suggest caution. Santiments analysis shows that when social dominance for these tokens spikes significantly, it often signals a market top. Whales typically capitalize on heightened retail enthusiasm, offloading their holdings at inflated prices. This pattern frequently results in a sharp retrace as prices correct following the sell-off. Related Reading: Cardano Whales Keep Buying Price Holds Above Crucial Mark Santiment also shared a comparative chart tracking social dominance across these meme coins, highlighting past instances where peaks in attention preceded pullbacks. For Dogecoin, maintaining its current momentum while avoiding overbought conditions will be critical to sustaining its rally. Price Testing Fresh Supply  Dogecoin (DOGE) is currently trading at $0.46, following a failed attempt to break decisively above the $0.48 level. The price remains in a consolidation phase, struggling to build enough momentum to push beyond the psychological $0.50 mark. Despite this, the broader market sentiment remains bullish, offering a supportive backdrop for potential price advances. The current environment suggests that Dogecoin is likely to continue ranging below $0.50 in the near term. However, if bulls can muster the strength to break above this critical level and sustain it for a few days, a massive breakout could be on the horizon. Breaking and holding above $0.50 would likely signal renewed buying interest, setting the stage for a strong rally. The bullish market conditions driving other major cryptocurrencies could also work in Dogecoins favor, provided that overall sentiment continues to improve. Still, traders should watch for clear confirmation of a breakout before expecting significant price movements. Related Reading: SUI About To Break ATH Again Can Bulls Target $4.20 This Week? A failure to break and hold above the $0.50 level could result in prolonged consolidation, delaying any meaningful upward momentum. For now, all eyes are on whether DOGE can capitalize on the broader market’s optimism and make a decisive move toward higher price targets. Featured image from Dall-E, chart from TradingView

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Dogecoin About To Enter Phase Of Explosive Growth Charts Reveal Massive Breakout

Dogecoin is once again testing a critical resistance level at $0.43, showing signs of renewed bullish momentum. This level has proven challenging for DOGE in recent weeks, but the price action suggests the meme coin could be primed for a parabolic move.  Bitcoin trader and investor Coinvo recently shared a technical analysis on X, emphasizing that DOGE has started a monthly breakout, signaling the potential for explosive growth. Coinvos analysis highlights that Dogecoin’s current setup aligns with historical patterns that have previously led to significant rallies. Related Reading: Cardano Whales Keep Buying Price Holds Above Crucial Mark However, the bullish scenario hinges on the ability of DOGE bulls to reclaim and hold the $0.43 level as support. A successful breakout above this resistance could open the doors for a massive rally, drawing renewed interest from investors and potentially driving the price to new highs. Failure to reclaim this level may result in the loss of upward momentum. Such a scenario would create ideal conditions for a correction, as traders and investors could take profits or hesitate to enter the market without confirmation of strength. Positive Outlook For Dogecoin After weeks of relentless “only up” price action, Dogecoin has entered a consolidation phase, trading sideways for over ten days below the $0.44 resistance level. Despite this pause, the meme coin exhibits remarkable resilience, showing little to no signs of weakness. This stability amidst market uncertainty suggests that Dogecoin may be preparing for its next significant move. Top analyst Coinvo recently shared a compelling technical analysis on X, pointing out that Dogecoin appears to have initiated a parabolic rally on the monthly chart. Coinvo highlighted that such consolidations often act as a foundation for further upward momentum, allowing the market to catch its breath before resuming its rally. Historically, Dogecoin has demonstrated an ability to consolidate before launching into massive price surges, and this time seems no different. This phase could be a necessary pause to fuel the next leg up, potentially propelling DOGE to new all-time highs. The current price action indicates strong support, with buyers stepping in to maintain the price above key levels. If Dogecoin manages to break above the $0.44 resistance, it could signal the start of a fresh bullish wave, likely bringing significant attention back to the meme coin. Related Reading: SUI About To Break ATH Again Can Bulls Target $4.20 This Week? However, market participants should remain cautious, as resistance at $0.44 has proven formidable. A confirmed breakout above this level would bolster the bullish narrative, but failure to do so could extend the consolidation phase. For now, Dogecoin remains one of the most closely watched assets in the market, with its next move potentially shaping its trajectory for the coming months. Is DOGE Ready For ATH? Dogecoin appears poised to break above key resistance levels at $0.44 and $0.48, signaling a potential continuation of the rally that began on November 5. After reaching a local high of $0.48 on November 23, DOGE entered a consolidation phase on November 12, maintaining a steady range. This consolidation has set the stage for the next decisive move. If DOGE successfully breaks above the $0.44 resistance and reclaims the $0.48 level while holding these as support, a massive breakout is likely to follow. Such a move would reaffirm bullish momentum and could propel the price into uncharted territory, drawing significant attention from traders and investors. However, failure to breach these critical levels could signal trouble for DOGE. A rejection at $0.44 or $0.48 would likely trigger a correction, weakening demand and pushing the price to lower levels. This would prolong the consolidation phase or potentially lead to a bearish trend as the market digests the lack of momentum. Related Reading: $1.87B Bitcoin Withdrawals From Coinbase In 24H What This Means To Price For now, Dogecoin’s price action suggests growing optimism among bulls, but the market awaits confirmation of a breakout. The coming days will be crucial in determining whether DOGE can sustain its upward trajectory or face renewed selling pressure. Featured image from Dall-E, chart from TradingView

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If Dogecoin Mirrors Last Cycle, The Surge To $4 Begins At Weeks End

After a staggering rally exceeding 200% in the first two weeks of November, Dogecoin (DOGE) has entered a consolidation phase. Crypto analyst Kevin (@Kev_Capital_TA) suggests this could be the calm before the storm, hinting at a potential surge similar to a previous market cycle. Is Dogecoin Heading Towards $4? Kevin notes that in Dogecoin’s last cycle, the memecoin consolidated for 24 days after its first massive rally before ascending again to what he describes as the “macro golden pocket”a price range between $3.80 and $4.00 which aligns with the 1.618 Fibonacci extension level.He believes that if DOGE follows a similar trajectory, price could skyrocket by the end of the week, potentially leading to a new all-time high (ATH) by the end of the month. Related Reading: Dogecoin Alert: Why December 5 Is A Game-Changing Date For Price In Dogecoin previous cycle when it had it’s first major leg up it consolidated for 24 days after that move before legging up again to the macro golden pocket. If DOGE were to follow a similar path that would mean that that the next leg will start by the end of the week and Doge will begin its path the macro golden pocket which is at $3.80-$4.00, Kevin states. However, he tempers expectations by acknowledging that such astronomical performance is hard to predict: That would be astronomical performance though and it’s hard to make that type of call. Let’s start with making a new ATH by end of month like I predicted back in September. The current price position of Dogecoin is critical. Analyzing the daily DOGE/USD chart, Kevin observes that DOGE is “actively testing this major trend line of support on the daily RSI.” A breach of this support could “accelerate downside. Bulls wants this to hold if possible. Related Reading: Dogecoin Whales Keep Buying DOGE Metrics Reveal Demand Remains Strong He adds that while the RSI trend line held on the daily close, “it needs to bounce now if we are going to hold it.” The influence of Bitcoin’s (BTC) price movement could be pivotal: “If BTC can leg up, it would save us, he notes. Bitcoin itself has been consolidating since reaching a reported ATH of $99,588 on November 22, trading within a range of $90,800 to $98,500. Kevin describes a “tug of war between price action and this downward momentum on the indicators,” as the daily MACD shows increased downside momentum that the price isn’t reflecting. He emphasizes that “one of them is going to win eventually.” On the 4-hour BTC/USD chart, Kevin highlights a symmetrical triangle pattern nearing its apex, suggesting an imminent breakout. Despite recent volatility, “BTC still has not broken down or even closed a 4HR candle below this trend line,” indicating strong support levels. He also points out significant liquidation levels around $100,000, stating that “it’s only a matter of time before BTC decides to come up and take that liquidity at $100K.” Such a move by Bitcoin could herald the next major price surge for Dogecoin, aligning with the patterns observed in the last cycle. Kevin’s analysis suggests that the interplay between Bitcoin and Dogecoin prices remains a crucial factor in predicting the next market movements. At press time, DOGE traded at $0.4194. Featured image created with DALL.E, chart from TradingView.com

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Dogecoin Teeters Between Price Discovery And Catastrophe: Whats Next?

The Dogecoin price is currently down -34% from its December 8 high at $0.4843. But according to crypto analyst Kevin (@Kev_Capital_TA), DOGE has one of the better looking charts at the moment. In a new Broadcast on X, he offered an in-depth look at Dogecoin, the broader market environment, and key technical indicators. Dogecoin: Price Discovery Or Catastrophe? Despite the current retracement, Kevin believes Dogecoins chart looks really nice at the moment and appears stronger than many other cryptocurrencies: This is a stronger coin compared to a lot of the market. I mean, Doge really does look good here. […] Can it not look good in a week from now? Of course it can, but it looks really good at the moment. However, he emphasized the possibility of short-term pullbackssomething that could bring Dogecoin down to the $.026 region: In the short term, could we come back down and test 26 cents? Which Im gonna throw that out there […] I see no real reason to be uber bearish […] but is it possible that we come back down here? Sure. Related Reading: Dogecoin Price Could Soar To $23 Based On These Bullish Fractals The $0.26 to $0.28 range emerged as the critical juncture for Dogecoins near-term outlook: As long as we remain above this 28 to 26 cent level […] I see no reason to be super fearful. If we pierce that level […] A loss of $0.26 cents on weekly closes would be catastrophic. Kevin traced this specific target back to November, when he first suggested Dogecoin would revisit the golden pocket near $0.26. According to him, many were skeptical, but that level eventually got hit: I took a lot of heat for making that call back in early November when we were at 45 cents […] We ended up coming back down and testing that. Looking to the upside, Kevin pinpoints a substantial resistance area between $0.30 and $0.35, calling it big, big resistance. Following that, he labels $0.94 to $1.00 as his next big zone, though he cautioned traders against assuming a guaranteed climb. For Dogecoin to breach previous all-time highs and truly enter full-blown price discovery, Kevin wants to see a break above the 0.703 and 0.786 Fibonacci retracementsroughly $0.53 and $0.59 cents, respectively: I dont see anything holding Dogecoin back from full-blown price discovery […] We want to break 53 cents […] and then the 0.786 at 59 cents. If were durably breaking past that 60 cent area, I dont see anything holding Dogecoin back. Drawing parallels to past market cycles, Kevin highlighted how Dogecoin historically checks in with its bull market support band and macro support levels before rallying: We came back, we tested structure support […] bull market support band in this cycle. This is very similar to [the previous cycle]. You cant deny the similarities. He described how Dogecoins present chart mirrors its cycle patterns almost insanely, referring to a breakout followed by a falling wedge, an initial climb, and a retest of macro support: Crypto has this insane innate ability to follow its cyclical nature of performance […] its truly amazing, really. Related Reading: Dogecoin Whales Bought Over 90 Million DOGE In 48H Details Despite Dogecoins cyclical consistency, Kevin reminded viewers that external market factors and Bitcoins performance (which he called the leader of the market) could always derail patterns: We obviously need Bitcoin to cooperate. We cant have any crazy situations happen globally. Kevin also examined the DOGE/BTC pair, noting a macro trend line and a golden pocket test: We have this macro trend line […] we broke through that and we came back in. Were currently at the bull market support band […] We came back and tested the macro golden pocket again. He stressed that if Dogecoin remains above this zone on the DOGE/BTC chart, it should head higher. A breakdown, however, could spell trouble: Kind of like that 26 cent level […] if we come down and break […] it will coincide with a break of the bull market support band and this macro golden pocket, in which case we can be in some pretty deep s**t. Kevin also delved into macroeconomic and geopolitical factors that could influence Dogecoin and the wider crypto sphere. He posited that the President Donald Trump returning to the White House in January is very bullish if it leads to improved regulations, reduced conflict, and pro-growth policies: We have Trump coming in the office in January, meaning were going to have a crypto-friendly administration […] If we can get the Ukraine and Russia war ended, thats going to be bullish for markets […] We can get inflation back down to 2% and then start lowering interest rates faster. When And How High Will DOGE Rise Again? From December dumps to Q1 optimism, Kevin noted how market participants often front-run expectations by about a month. He suggested that if January ends up choppy, February might be the point when markets begin their true climb: Everyone thought October was going to be bullish. October was not bullish. November was bullish. Now everyone thinks January is going to be bullish […] Maybe February is bullish. When pressed for specific price targets, Kevin pointed to several Fibonacci extensions and the Pi Cycle Top indicator on the Dogecoin chart: If we break through previous all-time highs, the next resistance zone is going to be $0.94 up to $1.32 […] If we break through $1.32, the next big resistance zone that Im eyeing is $2.19 up to $2.78. However, he made it clear that any long-term price predictions depend heavily on technical indicators and confirmations. He highlighted multiple monthly indicatorsMACD, RSI, Stoch RSI, and the Pi Cycle Topas potential signals to exit positions: I dont care what the price is at that point […] once we get up into that zone, Im taking profits off the board. If the monthly indicators start flashing, Im getting out. At press time, DOGE traded at $0.32. Featured image created with DALL.E, chart from TradingView.com

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Dogecoin Boom Over? Crypto Analyst Warns Of Sudden Sell Signal

After staging a massive rally, the Dogecoin price is currently in a consolidation phase. And this is also reflected in the technical indicators. Crypto analyst Kevin (@Kev_Capital_TA) is warning of a potential sell indicator. In his latest update on X, Kevin shared a weekly DOGE/USDT chart and outlined technical signs that traders should monitor closely. Dogecoin Price Analysis Kevin highlighted that Dogecoin is “printing a sell signal on the weekly time frame with the red dot appearing,” cautioning that this signal requires confirmation over the next week to solidify its validity. He identified a convergence of three strong technical indicators, including a declining Moving Average Convergence Divergence (MACD) and a Stochastic Relative Strength Index (Stoch RSI) that has “topped out waiting for a bear cross.” These indicators collectively suggest that a potential downside may be imminent. However, Kevin balanced this with the observation that “price action still looks bullish and money flow is also bullish,” indicating that these factors currently outweigh the bearish signals. Despite the long-term sell signals, Kevin remains open to the possibility of continued bullish momentum in the short term. He noted that Dogecoin has “close[d] its highest monthly candle body close of all time,” marking a significant milestone while acknowledging that “downside is still a risk.” Related Reading: How High Can Dogecoin Go? Legendary Trader Forecasts Next Price Target Looking ahead, Kevin pointed to the importance of a key resistance level, stating, Until we break $0.60 cents cleanly then there’s nothing to really be excited about, in reference to his weekly chart that includes Fibonacci price levels extending to $1. Moreover, Kevin is closely looking at macroeconomic factors that could influence Dogecoin’s performance. He indicated that an “altcoin season” could serve as a catalyst for DOGE’s continued strength, contingent upon Bitcoin’s dominance falling below the 55% level. “If BTC Dominance breaks the 55% level cleanly you will get your #ALTSEASON folks,” he explained. Additionally, Kevin shared his strategy regarding long-term moving averages, stating, “When these two long term moving averages cross on Dogecoin I will be selling a large piece of my bag. They have called the top successfully on DOGE multiple times. They are moving up fast! Related Reading: Dogecoin To $3? Expert Says The Countdown Has Begun Details Notably, the crypto analyst is referring to the Pi Cycle Top Indicator for Dogecoin, a tool traditionally used for Bitcoin (BTC). This indicator relies on the crossing of two moving averagesthe 111-day and the 350-day multiplied by twoto signal potential market peaks. Last week, Kevin revealed, One of my secret indicators for Dogecoin that is traditionally only supposed to work for BTC is the Pi Cycle tops indicator. It has accurately called every DOGE cycle top and bottom over each of its cycles. When the two moving averages cross along with Monthly RSI being at a certain level thats when I plan on taking significant portions out of the market. At press time, DOGE traded at $0.41. Featured image created with DALL.E, chart from TradingView.com

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Heres Why Dogecoin Is Poised For A Major Bullish Reversal

The Dogecoin (DOGE) price appears primed for a significant bullish reversal, supported by technical indicators and market sentiment data. Despite recent downward pressures, several factors suggest a potential upward trajectory for the popular memecoin. #1 Dogecoin Bounces Off Key Support Level (1D Chart) Crypto analyst CRG (@MacroCRG) highlighted the resilience of Dogecoin and PEPE, another [...]

The post Heres Why Dogecoin Is Poised For A Major Bullish Reversal appeared first on Crypto Breaking News.

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Dogecoin Price Slump Looms, Analyst Points To Only One Lifeline

Dogecoin (DOGE) has entered a period of weakness, slipping roughly 16% from its November 23 local high of $0.4795. As the original meme cryptocurrency struggles to reclaim key technical levels, the consensus among some analysts is that DOGEs ability to stabilize or recover may hinge almost entirely on an external factor: Bitcoins trajectory. Dogecoin Price At Risk Of Another Slump Technical analysis suggests that the previously well-respected uptrend line, established in mid-November, has now turned into a formidable barrier. After breaching this support line earlier in the week, Dogecoin bulls attempted several times to push the price back above it. Yet none of these efforts have succeeded. Crypto analyst Kevin (@Kev_Capital_TA), who has been closely tracking the DOGE/USD 1-day chart, notes that DOGE is getting rejected from the re test of this trend line that we were holding for almost a month on top of that it sits right in the macro .786 Fib.a technical zone often associated with significant turning points and potential reversals. Beyond the trend line, internal momentum indicators paint a challenging picture. Kevin emphasizes that the daily MACD for DOGE is showing strong momentum to the downside, a technical signal suggesting the markets short- to mid-term bias may lean lower unless the broader crypto environment shifts. Related Reading: Dogecoin Whales Bought 210 million DOGE During Recent Correction Bullish Signal? In his view, Its safe to say without a BTC move higher the more probable move for DOGE in the short to mid term is lower. A BTC move higher could save us though. He identifies $0.32the origin of the prior uptrend lineas a primary downside target. Should DOGE fail to hold above that level, traders may look toward the $0.29 to $0.26 range as potential next stops. In another post on X, Kevin emphasized that Dogecoin price pinned between two critical long-term Fibonacci levels. He describes DOGE as currently trading between the macro golden pocket, roughly at $0.47, and the macro 0.5 Fib level near $0.39. According to him, a firm break above or below these pivotal levels could trigger what he calls a cascading effect of aggressive movement. He adds: My position is that DOGE is not in control of itself and it’s fate lies purely in BTC’s hands at the moment so overly focusing on the asset is sort of a waste of time. I see nothing telling me the cycle is over therefore this should head higher soon enough regardless of short term noise. Nothing else to do but sit back and wait if you’re a long term holder who got in early like myself. However, there is at least one silver lining worth noting. Kevin mentions he is tracking [a] potential hidden bullish divergence on the DOGE daily chart. Hidden bullish divergences occur when price action continues to trend higher over a longer timeframe, while momentum indicatorslike the Relative Strength Index (RSI)trend lower. Related Reading: Dogecoin, XRP Flashing Overlooked Bullish Signal, Santiment Reveals This pattern can sometimes signal that a markets underlying strength is greater than it appears. It is, as the analyst puts it, pretty textbook at the moment, though it still needs the all-important help from Bitcoin. Still need BTC to cooperate so nothing guaranteed, Kevin remarks. What About Bitcoin? Kevin points out that Bitcoin is currently squeezing between an upward trend line of support and a macro golden pocketlevels derived from the previous bull market high to bear market low. This tightening price action suggests an imminent resolution: BTC is unlikely to remain compressed in this zone much longer. A decisive breakout, in either direction, seems imminent and could have far-reaching consequences. This upwards consolidation cannot last much longer. We will get a bust in either direction very soon, Kevin predicts. On the liquidity front, Kevin sees significant upside liquidity blocks for BTC, noting that built up liquidity over the last 48 hours aligns with the macro 1.703 Fibonacci level. He also mentions observing data that shows whales purchasing large options calls for MicroStrategy (MSTR) stock. Such purchases may reflect anticipation of a BTC move higher, given MicroStrategys well-known Bitcoin treasury holdings. If these whales and liquidity indicators are correct, and BTC does indeed push upward, DOGE might find the one lifeline it needs to stabilize and reverse its current downtrend. At press time, DOGE traded at $0.405. Featured image created with DALL.E, chart from TradingView.com

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Dogecoin Whales Bought 210 million DOGE During Recent Correction Bullish Signal?

Dogecoin has seen choppy price action over the past few weeks, reflecting the broader market’s indecision. After reaching a new yearly high of $0.484, the price retraced sharply, losing over 25% of its value. This pullback has left Dogecoin struggling to regain strength and find clear direction, creating uncertainty among retail investors. Related Reading: Bitcoin Finds Support At $94.5K As STH Realized Prize Signals Strength Despite the retrace, on-chain data provides a promising signal for Dogecoins potential recovery. Metrics from Santiment reveal that Dogecoin whales took advantage of the recent dip, accumulating a staggering 210 million DOGE during the correction. This accumulation suggests that large holders position themselves for higher prices, signaling confidence in Dogecoin’s long-term outlook. The market is watching closely to see if this whale activity can reignite momentum and push Dogecoin back toward its highs. With whales accumulating during the correction, recovery might be on the horizon, but the price still needs to reclaim key resistance levels to confirm a bullish continuation. Investors and analysts are awaiting the next move, which could determine whether Dogecoin remains in a consolidation phase or resumes its upward trend. Finding Fuel To Rally Dogecoin has been a standout performer recently, experiencing a massive surge since November 5. The meme coin gained over 220% during this period, capturing the attention of retail and institutional investors alike. However, after this impressive rally, Dogecoin is now in a consolidation phase, as the market takes a pause before the next significant move. Top analyst Ali Martinez shared insights on X, highlighting on-chain data from Santiment that offers a bullish perspective. According to Martinez, Dogecoin whales took advantage of the recent price correction, accumulating an impressive 210 million DOGE.  This activity underscores the growing interest in ‘smart money’, as large holders often accumulate during dips in anticipation of future price increases. Such whale activity is a positive long-term signal for Dogecoin and meme coins, suggesting confidence in its potential for further growth. Related Reading: Solana Will Step Back Into The Spotlight Once It Reclaims $222 Details Despite the bullish signals, Dogecoin must overcome current consolidation to maintain its upward trajectory. A breakout above the current pattern would likely trigger another surge, continuing its rally. However, failure to break out could lead to a deeper correction as investors reassess short-term market conditions. The next move will likely set the tone for Dogecoins direction in the coming weeks, making it a critical moment for the popular meme coin. Dogecoin Testing Crucial Demand Dogecoin (DOGE) is currently trading at $0.41 after successfully testing support at the $0.36 level, a critical area that has held firm during recent market volatility. Over the past few days, DOGE has been ranging sideways, confined between resistance at $0.48 and support at $0.36. This range-bound activity suggests the market is in a consolidation phase, with both bulls and bears waiting for the next decisive move. If Dogecoin can break above the key resistance level at $0.48, it would signal renewed bullish momentum and likely trigger a push higher. Such a breakout could attract more buyers and set the stage for DOGE to challenge its previous highs. On the other hand, failure to hold the $0.36 support level would likely lead to a deeper correction, with the potential to test lower demand zones as investors lose confidence in the short-term outlook. Related Reading: Cardano Follows 2020 Bullish Pattern Top Analyst Plans To Take Profits Between $4 And $6 As Dogecoin remains within this range, traders and investors closely monitor the price action for signs of a breakout or breakdown. The next few sessions will be pivotal in determining whether DOGE resumes its upward trajectory or faces a more extended correction period. The meme coin sits at a crossroads, poised for its next big move. Featured image from Dall-E, chart from TradingView

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How High Can Dogecoin Go? Legendary Trader Forecasts Next Price Target

Dogecoin is one of the standout performers in the crypto market in the last weeks. Over the past 34 days, DOGE has rallied by 210%, climbing from $0.13 to above $0.41. The rally was fueled by excitement surrounding the creation of the Department of Government Efficiency (DOGE), spearheaded by Dogecoin advocate Elon Musk under the [...]

The post How High Can Dogecoin Go? Legendary Trader Forecasts Next Price Target appeared first on Crypto Breaking News.

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Dogecoin Analyst Reveals Buying Opportunities At Lower Prices Details

Dogecoin (DOGE) is currently trading at a pivotal level following a 17% retrace from its recent highs around $0.179. This pullback has brought DOGE to a significant demand zone, catching the attention of top analyst Daan, who recently shared a technical analysis identifying this level as an opportunity for accumulation. According to Daan, the current support zone could act as a launchpad if buying pressure intensifies, positioning DOGE for a potential rebound. However, the upcoming days are expected to bring heightened volatility and uncertainty, primarily due to the approaching US election and its anticipated impact on financial markets. As broader market sentiment often influences Dogecoin, this period could present swings in price as traders adjust to both political developments and economic responses. Related Reading: Solana Headed For Correction Before Bounce Analyst Sets $180 Target The key now is whether Dogecoin can hold above this demand zone. If buyers step in and support builds, a recovery could see DOGE reattempt recent highs or push even further.  Conversely, failing to hold this level might lead to a deeper retrace. Investors are closely watching this area, recognizing that Dogecoins next moves will be shaped by internal technicals and external market conditions in the days ahead. Dogecoin At Key Levels  Crypto analyst Daan recently shared a detailed technical analysis on X, highlighting that Dogecoin is approaching what he sees as prime accumulation levels. With DOGE trading around the $0.151 mark, Daan notes that this price point has acted as a resistance zone for several weeks, making it a key area for potential buying.  In his analysis, Daan points out that the upcoming US election adds a significant layer of uncertainty to the market, dubbing it a toss-up for short-term price direction. He explains that the election outcome could impact both traditional and crypto markets, which may lead to temporary downward pressure or a surprising upward movement depending on results and broader market sentiment. Yet, for Dogecoin specifically, he believes that if the price continues to decline to these strategic levels, the risk/reward ratio could be favorable for buyers looking to take a punt. Daan also notes that Monday could bring further opportunities if DOGE dips lower, though he advises caution due to the likely volatility in the coming days. The analyst emphasizes that while these are risky conditions, the chance to accumulate DOGE at historically significant levels may pay off if the broader market sentiment aligns favorably post-election. Related Reading: Bitcoin On-Chain Indicator Signals Panic Selling At Current Levels Time To HODL? Ultimately, the coming days for Dogecoin look to be both volatile and uncertain, and whether it holds the $0.151 mark or dips further could set the stage for the coins next move. Investors watching DOGE closely are mindful of both the technical setup and external market factors, hoping for a possible rebound in this tumultuous environment. DOGE Technical View Dogecoin is currently trading at a key level of $0.151, where previous supply has now shifted to a crucial demand zone. This level will be essential for bulls looking to regain momentum and push DOGE toward new highs. Holding above $0.151 is vital for establishing a foundation that could propel the price higher, providing the market confidence needed for a potential upward trend. However, if DOGE fails to sustain this level, it could trigger a pullback toward the next major demand zone around $0.135. This lower level has acted as support in the past and could serve as a crucial point for accumulation if selling pressure increases. Related Reading: Analyst Exposes Ethereum Ascending Support At $2,400 Best Chance To Accumulate ETH? The coming days will reveal whether buyers can defend this $0.151 zone or if a deeper correction is on the horizon. Breaking above current levels would give DOGE the bullish push needed to test higher resistance zones and potentially establish a stronger uptrend. Conversely, losing support here would signal that sellers are still in control, setting DOGE up for a retest of lower demand levels. As volatility remains high, traders are closely monitoring these critical support and resistance points. Featured image from Dall-E, chart from TradingView

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Dogecoin Forms A Nasty Triple Top: Analyst Reveals Whats Next

The Dogecoin price is currently exhibiting a highly bearish chart pattern on the 4-hour time frame, signaling potential caution for investors. After forming a bullish falling wedge pattern between November 12 and 19, the anticipated breakout was short-lived and failed to meet bullish expectations. On November 19, Dogecoin broke out of the formation, sparking initial optimism among traders. However, crypto analyst Kevin (@Kev_Capital_TA) had predicted the breakout would be weak, and subsequent price movements validated his forecast. Where Is Dogecoin Price Heading Next? The memecoin faced a sharp rejection at a significant resistance level, specifically the macro 0.786 Fibonacci retracement level. Kevin emphasized that until this level is “broken cleanly and violently, there’s nothing to get overly crazy about.” He also pointed out that Bitcoin (BTC) is at major resistance, suggesting that Dogecoin’s next significant move will likely coincide with Bitcoin clearing the $100,000 mark. “Until then, everything’s just gonna mosey around,” he noted. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern Analyst Reveals Target Urging traders to temper their enthusiasm, Kevin stated, “Please control your excitement as there is nothing in the short term to be excited about. BTC is still at major resistance and so is Dogecoin. Nothing has broken yet.” He highlighted the importance of Bitcoin’s movements, adding, “It’s more important to provide technical analysis on BTC than on Dogecoin at the moment. DOGE is just trading sideways, waiting for Bitcoin to make a decision on higher or lower. Where Bitcoin goes, Doge will go in the short term.” Analyzing the 4-hour chart, Kevin identified a “nasty triple top” at the macro 0.786 Fibonacci level for Dogecoina bearish signal that could indicate upcoming downward pressure. He warned that if a correction to $0.30 occurs, as he had previously suggested, “a lot of blind perma bulls are gonna need to do some explaining.” A triple top is a bearish reversal pattern in technical analysis that signifies a potential shift from an uptrend to a downtrend. It occurs when the price reaches the same resistance level three times, each time retreating after failing to break through. Dogecoins repeated inability to surpass the 0.786 Fib at $0.41 suggests weakening bullish momentum in the short term.  Related Reading: Analyst Predicts Rapid Dogecoin Surge To $1: The Timing May Surprise You Kevin emphasized that Dogecoin hasn’t truly broken out yet: “Until it breaks the macro 0.786 Fib cleanly at $0.41, it’s just trading sideways.” Looking ahead, he outlined a bullish scenario contingent on overcoming this key resistance level. “If Dogecoin breaks that macro 0.786 Fib with force, then $0.80 to $0.85 is on the table. Lots of work to do though. Need BTC to push higher,” he explained. For several days, Kevin has been forecasting a deeper correction for Dogecoin. The triple top formation and rejection at the 0.786 Fibonacci level support his primary hypothesis. He outlined his initial price target: “A level we will want to hold for Dogecoin is the $0.30 to $0.26 range, which is the golden pocket retrace levels. That’s a 30-40% correction from the local top, which in a bull market is a perfect size correction.” Focusing on the longer-term perspective, Kevin highlighted the significance of the upcoming monthly candle close. “The next big goal for Dogecoin is to close a monthly candle in 11 days above $0.335. That would make the highest monthly candle close of all time for DOGE, and I will be keeping my eye closely on this,” he stated. At press time, DOGE traded at $0.39. Featured image created with DALL.E, chart from TradingView.com

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Dogecoin Price May Explode By 10,200% Based On Classic Chart Pattern: Expert

Henrik Zeberg, a prominent macroeconomist known for his expertise in business cycles and Head Macro Economist at Swissblock, released a technical analysis for the Dogecoin price by popular demand. Within the monthly chart of DOGE/USD, Zeberg highlights potential future prices based on Fibonacci extensions and a specific chart pattern known as the “Rounding Bottom.” Will Dogecoin Price Hit $29? Zebergs technical approach draws heavily on the historical performance of Dogecoin, suggesting that its price might follow a bullish trajectory mirrored in previous cycles. In his analysis, he points out, “DOGE seems to develop a Rounding Bottom structure in each Cycle. We observe how each cycle has produced higher and higher levels into the Euphoria phase.” The Rounding Bottom is a proven chart pattern often seen in financial markets which signals a reversal or a significant shift from a downward trend to an upward trend. The pattern is recognized by its gradual, rounded recovery from a low point, resembling the shape of a bowl or a saucer. This pattern indicates a slow and steady accumulation phase among buyers, followed by a gradual increase in price and demand. Related Reading: Dogecoin Price To $1 Soon? Textbook Weekly Golden Cross Shows Whats Coming Next The formation of a Rounding Bottom begins when an asset hits a new low and then slowly starts to recover, with buyers gradually entering the market, wary of the downtrend but starting to gain confidence as prices stabilize. As the asset’s price ascends, it reflects increased buying pressure and a decline in selling pressure, suggesting a shift in market sentiment from bearish to bullish. To confirm a Rounding Bottom, the price must break through the resistance level that initially led to the pattern’s formation, often marked by the highest point of the curve before the asset’s price began to fall. For the Dogecoin price, this is the price level around $0.49 which Zeberg identifies as the first price target. The breakout typically needs to be accompanied by an increase in volume and can signal a long-term bullish trend. If DOGE manages to break this resistance in the coming days, the future could be massively bullish. Related Reading: Dogecoin Descending Triangle Could Hint At Next Destination For DOGE Zeberg utilized Fibonacci levels to provide specific future price targets for Dogecoin. The Fibonacci extension levels specifically marked on the chart for Dogecoin include the 1.27 Fib ($0.4924) which Zeberg labels as target 1 with a potential gain of 75%. The next price target for the Dogecoin price is the 1.618 Fib at $0.08030 which is referred to as target 2 with an anticipated increase of 180% by Zeberg. The 2.618 Fib at $3.2738 is marked as target 3, an ambitious goal representing an 8x increase. Moreover, the 3.618 Fib at $13.3641 and 4.618 at $54.4064 are also marked, though not explicitly linked to immediate targets, indicating very optimistic long-term possibilities should the market enter another phase of euphoria akin to past cycles. In discussing these targets, Zeberg cautions, “Could we see even more crazy development? Nothing is certain – but the setup looks like a repetition of what we have seen in earlier phases.” This statement refers to Zeberg’s main target for this bull run, which stands between the 3.618 and 4.618 Fibonacci levels at $29, assuming the entire market remains in a mania phase for an extended period. In this scenario, Dogecoin would achieve a gain of 10,200%. At press time, DOGE traded at $0.41. Featured image created with DALL.E, chart from TradingView.com

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Dogecoin Price Prediction for Today, November 11DOGE Technical Analysis

Dogecoin (DOGE) has recently achieved a three-year high, currently trading at $0.28. The meme coin has overtaken both XRP and USDC, rising to the sixth-largest [...]

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Active Dogecoin Addresses Reach Highest Level In 8 Months Is DOGE About To Rally?

Dogecoin is currently in a consolidation phase following days of sharp volatility and wild price swings. Since the start of October, the meme coin has been trading within a tight sideways range, leaving some investors concerned about whether the anticipated rally for DOGE will ever materialize. The uncertainty in the market has heightened fears that Dogecoin’s price might stagnate further, as bullish momentum seems to have cooled off. Related Reading: Solana Prepares For A 20% Rally Can SOL Reclaim $176? However, new data from Santiment offers a glimmer of hope for DOGE enthusiasts. The platform’s key metrics show that active addresses on the Dogecoin network have surged to their highest level in eight months. Analysts often consider this spike in network activity as a positive sign, as increased participation and interest can drive price action upward.  As traders keep an eye on these developments, this uptick in active addresses could serve as the catalyst needed for the next significant Dogecoin rally. The question remains: will this trend be enough to reignite the bullish sentiment around DOGE, or will it remain stuck in its current range? Dogecoin Network Activity Rising Dogecoin is at the center of intense speculation as investors and analysts debate its future price action. After enduring weeks of volatility and sharp price swings, the meme coin has mirrored the unpredictable nature of the broader crypto market.  Currently consolidating above the key $0.10 level, Dogecoin traders are closely watching for signals that could trigger a rally. Investors are eager for a clear bullish confirmation, but so far, the market remains in a state of uncertainty. Critical on-chain data offers some hope for Dogecoin enthusiasts despite the lack of immediate upward momentum. According to Santiment data, shared by crypto analyst Ali on X, active Dogecoin addresses recently surged to 133,880, marking the highest level in eight months.  This spike in network activity is often interpreted as a positive sign, suggesting that more traders are engaging with the asset, potentially indicating rising demand. Related Reading: Dogecoin Could Break Yearly Highs Any Moment Now Crypto Analyst Higher active addresses generally signal increased transaction participation, which can create upward pressure on prices if sustained. As this trend unfolds, many investors are hopeful that this increased network activity could serve as a catalyst for the next significant DOGE rally. Whether this surge in activity will translate into higher prices or whether DOGE will continue its sideways consolidation remains to be seen. DOGE Price Action: Key Levels To Watch Dogecoin is currently trading at $0.111 after spending the last 12 days in a narrow range between $0.101 and $0.115. This period of consolidation has kept traders on edge, as the price remains just 5% below the daily 200 exponential moving average (EMA), which sits at $0.116. For bulls to initiate a rally and break out of this sideways trend, the price must first surpass this critical resistance level. However, if DOGE fails to maintain momentum and cannot push above the 1D 200 EMA in the coming weeks, a deeper correction could be on the horizon. In such a scenario, traders should watch for potential support at lower demand levels. The next key support level is around $0.098, with a worst-case scenario declining to $0.088. Related Reading: XRP Will Jump 75% If It Holds Current Demand Level Details The coming days will be crucial for determining whether Dogecoin can break out of its current range or face further downside. Investors are closely monitoring the price action and network activity for signs of a potential rally or a continued slide to lower support levels. Featured image from Dall-E, chart from TradingView

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Dogecoin Looks Undeniably Impulsive DOGE/BTC Ratio Uncovers Strong Accumulation

Dogecoin has kicked off the new year with an impressive 29% rally from local demand levels, captivating investors and signaling its resilience in the crypto market. The meme coin leader is now testing critical resistance around the $0.40 mark, a level that could determine its next move. Related Reading: Chainlink Tunrns Resistance Into Support ATH Next? Top analyst Bluntz recently shared an insightful analysis, emphasizing that Dogecoin appears to be in a strategic accumulation period. According to Bluntz, this phase is setting the foundation for an aggressive surge later in the cycle, potentially positioning DOGE for significant gains. Such accumulation periods are often precursors to explosive upward movements, especially for assets with strong community backing like Dogecoin. The coming days will be pivotal for DOGE as it battles to break above the $0.40 resistance level. A successful breakout could ignite a bullish rally, reinforcing Dogecoins position as a market favorite. However, failure to clear this zone might result in short-term consolidation, delaying the anticipated surge. Dogecoin Devising A Rally  Dogecoin has displayed strong bullish price action since early November, defying market volatility and capturing the attention of investors. Even with its recent correction, the price has managed to recover, showing growth that underscores its potential for further upside. Bluntz recently shared a technical analysis on X, highlighting the accumulation phase in the DOGE/BTC ratio. According to Bluntz, the ratio is “still accumulating,” suggesting that Dogecoin is preparing for a significant rally in this cycle. Bluntz confidently stated that there is “no chance” DOGE won’t surge during this bull run, reflecting the analysts optimistic outlook on the meme coin leader. While Dogecoins trajectory looks promising, its essential to recognize the associated risks. Volatility remains a hallmark of cryptocurrency markets, and Dogecoin is no exception. The broader economic landscape adds another layer of uncertainty, with rising interest rates, inflation, and global economic pressures influencing investor sentiment. These factors could contribute to periods of sharp price fluctuations for DOGE. Related Reading: Ethereum Analyst Predicts A Bullish Q1 Can ETH/BTC Ratio Push Above 0.04? For long-term investors, Dogecoins ongoing accumulation phase may present an opportunity to enter the market ahead of a potential breakout. However, risk management and a cautious approach are vital, especially given the unpredictable nature of both the crypto market and the global economy. If Dogecoin manages to clear key resistance levels, it could validate Bluntz’s bullish thesis and solidify its status as a top performer in this cycle. Price In Consolidation Dogecoin is currently trading at $0.38 after encountering resistance at the $0.40 mark. This level has temporarily halted DOGE’s upward momentum, placing the price in a consolidation phase. Such periods of sideways trading are not uncommon and could last for several days or even weeks as the market gathers strength for the next move. Despite the pause, optimism remains high among investors and analysts. The $0.43 mark is emerging as a critical resistance level for DOGE. A clean breakout above this level would signify renewed bullish momentum, potentially propelling Dogecoin to multi-year highs or even new all-time highs. Achieving this would likely draw fresh attention from both retail and institutional investors, further bolstering its upward trajectory. Related Reading: Solana Breaks Above Daily Downtrend Analyst Expects New ATH Soon However, the path forward is not without its challenges. Market sentiment and broader crypto trends will play a significant role in determining whether Dogecoin can muster the strength to push higher. If the consolidation phase is accompanied by increased trading volume and strong buying support, the breakout scenario becomes increasingly likely. Featured image from Dall-E, chart from TradingView

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Dogecoin Price Confirms Breakout: Analyst Sets New Price Targets

Crypto analyst Balo (@btcbalo) has highlighted a major technical breakout on the Dogecoin (DOGE/USD) chart that suggests a bullish trend in the near future. Balo’s analysis, based on a 4-hour chart, points to several key technical developments that are driving expectations of a continued upward movement of the Dogecoin price. Why Dogecoin Looks Poised To Rally A cornerstone of Balos assessment centers on Dogecoins decisive breach of a longstanding downtrend line on December 28. This downtrend line, originally established from the December 8 apex of $0.48, had served as a formidable resistance level, effectively dictating DOGEs price movements throughout December. Related Reading: Dogecoin To Rally 6,770% If This Pattern Holds: Crypto Analyst The breakout above this trend line marks a critical turning point. Following this ascent, Dogecoin experienced a minor retracement in which the memecoin swiftly retested the breached trend line. However, the retest was successful, reinforcing the bullish outlook for Dogecoin. Complementing the breakout from the downtrend line is the dissolution of a descending triangle pattern that had been forming since December 21. A descending triangle is characterized by a series of lower highs converging with a relatively flat support level, often signaling a potential bearish continuation. However, Dogecoins ability to break out of this formation today, on January 2 suggests a shift in market sentiment. The emergence from the descending triangle, coupled with the breakout, enhances the bullish narrative, although a retest of the triangles upper boundary could provide further validation of this upward trend. Integral to Balos thesis of a major breakout is also the volume profile, which offers a nuanced understanding of trading activity at various price levels. Dogecoin has rebounded from the substantial support at the highest volume cluster around $0.32, indicating a strong base of accumulated trading interest. Related Reading: Dogecoin Teeters Between Price Discovery And Catastrophe: Whats Next? To the upside, volume is thin until the $0.40 region, where there is a huge cluster up to $0.43. This clustering implies that above this zone, DOGE could encounter minimal resistance, paving the way for Dogecoin to target its yearly high of $0.4834, recorded on December 8. Further reinforcing the bullish outlook is the completion of the ABC pattern on Dogecoins chart. The ABC pattern is a corrective sequence in technical analysis that typically signifies the termination of a retracement phase and the continuation of the preceding trend. In Dogecoins case, the finalization of this pattern aligns seamlessly with the other bullish indicators derived from the breakout and volume profile analysis. Thus, Balos remark DOGE [is] starting to break out, I don’t see any reason to stop now. New highs real soon, could signal that DOGE is heading for a new high. At press time, DOGE traded at $0.34. Featured image created with DALL.E, chart from TradingView.com

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Dogecoins Bullish Run: Pennant Breakout and Whales Spark Price Surge

Dogecoin (DOGE) is currently on a bullish trajectory, experiencing significant growth alongside the overall cryptocurrency market. This rise in DOGE’s value is closely tied to Bitcoins (BTC) recent breakout, which has provided a boost to altcoins like DOGE. As of today, DOGEs price is $0.414363, reflecting a 10.24% increase over the past 24 hours. This […]

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