Skip to main content

Dogecoin Sets Sight On A New All-Time High – Here’s Where This Major Rally Will Begin

Dogecoin’s recent upward trend witnessed a brief setback on Thursday as its price dropped to levels below $0.17. However, the dog-themed meme coin has regained its footing and has rebounded slightly above $0.18 within hours, reflecting its robust resilience. With DOGE showing notable upside momentum, many enthusiasts continue to point to an extension of the ongoing rally to higher price levels.

DOGE Gearing Up For A Bigger Rally

At the time of writing, DOGE’s price has risen to the $0.18 mark with a strong rebound. Meanwhile, Memecrypto, a crypto analyst and trader, claims that Dogecoin looks like it might be starting something bigger from the current $0.18 level.

According to the expert, Dogecoin‘s momentum is not random and structure is building naturally, indicating a breakout from consolidation. This breakout is observed through the lens of momentum and Exponential Moving Averages (EMAs).

Dogecoin

In the meantime, the next key resistance is located at $0.24, and a push to the area could be the beginning of a larger trend at the current pace. While sentiment remains cautious, Memecrypto noted that markets do not wait for latecomers, and the next impulse would possibly turn into a FOMO chase.

A 600% Price Explosion In Play For Dogecoin

After a prolonged period of downward action, Dogecoin is back in the spotlight due to its renewed price rally. While the popular meme coin is flashing bullish signals, Trader Tardigrade, a market expert and investor, has outlined an incoming upsurge, suggesting a continued rally to higher levels.

Specifically, the expert has predicted a 600% price rally in the short term, which will push the meme coin to a new all-time high in the ongoing cycle. This anticipated surge could mark a pivotal moment in DOGE’s evolving market narrative, driven by a combination of technical breakouts, increased trade volume, and rekindled consumer interest.

Trader Tardigrade’s bold forecast is based on past upward trends caused by a bounce from an ascending support trendline. Looking at the chart in the 3-day time frame, the ascending support trendline has been unfolding for several months, starting from October 2023 till the present day.

The first time DOGE reached the ascending support trendline in October 2023, the meme coin witnessed a more than 200% increase in the following months. During the second instance in 2024, DOGE’s price surged by over 400% to new yearly highs after hitting the ascending support trendline.

Meanwhile, a similar development has unfolded in Dogecoin’s recent price actions. Since each time has resulted in bigger returns, Trader Tardigrade is confident that a powerful surge of +600% might be on the horizon. As observed in the chart, this impending +600% rally will bring DOGE’s price to the $0.93 level, marking a new all-time high.

With key support holding amid bullish waves, this implies that DOGE is building momentum for an upside as bulls step in to defend the rally. Trader Tardigrade highlighted that Dogecoin has returned to the Order Block Zone, which would provide good support for the meme coin. Should the zone hold strong against bearish pressure, DOGE’s price could rebound toward key resistance levels.

Dogecoin

from Bitcoinist.com https://ift.tt/TVmcs2H
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Remains Range-Bound As Volatility Declines – Analyst Explains Price Action

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....
Post a Comment
Read more

Ethereum On Exchanges Crashes To Historic Low Amid Market Volatility, A Bullish Signal For Price?

Ethereum saw a bounce back above the $3,000 price market , with bullish sentiment gaining momentum among investors, especially those on centralized exchanges. Even with the market experiencing sideways movements, the overall supply of ETH on crypto exchanges has fallen sharply, hitting unprecedented levels. Lowest Supply Of Ethereum On Exchanges Recent signals from on-chain metrics indicate that the Ethereum market environment is undergoing a quiet yet significant transformation. This unfolding trend is due to the sharp drop in the supply of ETH available on cryptocurrency exchanges. Related Reading: Ethereum Network Fatigue? Monthly On-Chain Transactions Drops As Activity Slows Down As reported by Coin Bureau on the social media platform X, ETH supply on centralized exchanges has hit levels not seen in years. With more holders choosing long-term storage, staking, and self-custody over keeping their assets available for trade, this significant supply drain indicates a change in i...
Post a Comment
Read more

Past Performances Say Dogecoin Price Could Blast 200% To Clear $0.73 ATH Soon

The Dogecoin price could be getting ready for a fresh bullish wave as a crypto analyst projects a surge to new all-time highs . The analyst cites past performances as a reason for this bullish projection, highlighting the Dogecoin price action from previous bull cycles.  Dogecoin Price Past Performance To Push It Above $0.73 Crypto analyst Javon Marks took to X (formerly Twitter) on February 22 to share a bullish prediction of the Dogecoin price. The analyst highlighted past bull market performances to support his forecast, predicting that DOGE could soon rally above its current all-time high of $0.73905. In his chart, Marks revealed Dogecoin’s price action during the 2016/2017 bull run and the 2020/2021 bull market. In both cycles, DOGE seemingly experienced a rapid price crash, following a descending price channel . However, after a long period of consolidation, it recorded a massive price rally that triggered an ATH breakout to $0.00232 in 2018. During the 2021 bull marke...
Post a Comment
Read more