If Dogecoin Breaks Above Key Resistance ‘We Could See A 25% Rally’ – Top Analyst
2024年10月29日 - 1:30AM
NEWSBTC
Dogecoin (DOGE) has been trading below a key resistance level at
$0.143 since October 19, and anticipation is building among
investors who believe a breakout may be imminent. The popular
memecoin has remained relatively steady, yet this critical level
has prevented DOGE from moving significantly higher. Top
analyst and investor Ali Martinez recently shared a technical
analysis on X, highlighting the potential for a strong rally once
DOGE clears this barrier. According to Martinez, a break above the
$0.143 mark could trigger a rapid 25% rally, propelling Dogecoin to
fresh highs. Related Reading: Bitcoin Bullish Outlook Confirmed By
Critical Data – STH Overheating? As market sentiment appears
cautiously optimistic, all eyes are on Dogecoin’s performance in
the coming days. Investors and traders are watching closely,
expecting a decisive move that could set the stage for Dogecoin’s
next trend. With the entire crypto market poised for potential
shifts, it could be crucial for DOGE to regain momentum. The
outcome of this resistance test will likely play a key role in
shaping Dogecoin’s path forward, especially if it ignites renewed
interest and buying pressure across the market. Dogecoin Price
Starting To Rise Dogecoin is showing renewed strength following a
week marked by volatile price action, which included a pullback
from a recent local high at $0.149. Now trading near a key
resistance level at $0.143, Dogecoin is capturing attention across
the market. Prominent analyst Ali Martinez shared a detailed
technical analysis on X, suggesting that if DOGE successfully
breaks through this resistance, it could trigger a notable 25%
rally, pushing the price up to the $0.175 mark. According to
Martinez, the $0.143 threshold is crucial for Dogecoin’s short-term
trajectory, acting as a potential launchpad for further gains.
Currently, Dogecoin is testing this pivotal level, and market
sentiment is growing optimistic about a breakout, especially as
other assets signal readiness for upward movement. The next few
days will be critical, with analysts expecting potential bullish
momentum across the crypto market that could support DOGE in
surging higher. Related Reading: Solana Bullish Pattern Holds –
Crypto Analyst Sets $202 Target However, should Dogecoin fail to
surpass the $0.143 resistance, a period of retracement would likely
be necessary to locate lower demand and restore liquidity for the
next leg up. A pullback to gather momentum could provide the
foundation needed to reattempt a breakout, positioning DOGE for
further gains once market conditions align. As Dogecoin teeters on
this critical threshold, it’s clear that the outcome of this
resistance test will be instrumental in setting the tone for its
price action in the near term. DOGE Technical Levels To Watch DOGE
is trading at $0.143 after a minor rally from recent lows at
$0.127. This level has proven to be a significant resistance point,
as DOGE faces challenges in breaking above it. The overall market
is signaling potential upward momentum, but for DOGE to maintain
its bullish trajectory, it must decisively break past this $0.143
threshold in the coming hours. Successfully doing so would solidify
support for a continued rally, potentially driving the price higher
in the short term. However, a retracement would likely be necessary
if Dogecoin struggles to hold above this resistance. In this case,
a dip to a lower demand level around $0.12 could provide the
necessary liquidity to reignite buying interest and gather momentum
for a subsequent push. This demand zone has previously acted as
strong support and could be the fuel DOGE needs to sustain its
bullish outlook. Related Reading: Bitcoin Bullish Outlook Confirmed
By Critical Data – STH Overheating? As Dogecoin tests these
critical levels, traders closely monitor its movements to gauge
whether it can break through resistance or if a temporary pullback
is on the horizon. Featured image from Dall-E, chart from
TradingView
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