Veteran analyst Ali has shared a prediction regarding Dogecoin’s (DOGE) price movement on X (formerly Twitter). According to his analysis, a decisive move beyond the $0.16 to $0.18 range could trigger a 16% price shift. The statement, with a technical chart, has started talks among traders as DOGE sits in an ascending triangle pattern.
DOGE has been moving in a narrowing price range, creating an ascending triangle on the charts. This pattern shows higher lows and a flat resistance level, hinting at a possible breakout. The resistance area from $0.177 to $0.18 has been blocking upward movement. But the steady pattern of higher lows shows growing bullish strength.
Support levels remain strong, with an ascending trendline reinforcing buying interest. The lower boundary of this consolidation is near $0.16, a level that has consistently held against downward pressure. If the DOGE price maintains this structure, a breakout above resistance could follow.
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Dogecoin Potential Breakout and Price Targets
Ali’s tweet points out that a confirmed close outside the $0.16 to $0.18 range could cause a big price move. If DOGE breaks above $0.18, the price could climb toward $0.208 to $0.21, about a 16% increase. But if it falls below $0.16, it might drop toward $0.135 to $0.14.
Traders monitoring this setup are awaiting confirmation, as price movement within this range remains indecisive. A surge in trading volume could validate the breakout direction and determine DOGE’s price next major move.
Dogecoin Support and Resistance Factors to Watch
The $0.177 to $0.18 resistance level has been tested multiple times, making it a crucial area for traders. If buyers take control and break above this zone with strong volume, it could mean continued bullish momentum. On the flip side, the $0.16 level acts as key support, stopping further drops.
Technical indicators show that volume will be important in confirming a breakout. A strong daily close above resistance with increased buying activity could push the DOGE price toward the $0.20 mark.
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DOGE Market Sentiment and Trading Considerations
The market remains in anticipation, with traders watching for a decisive move beyond the current range. While the ascending triangle suggests an upward breakout is likely, confirmation through volume and price action is needed. Ali’s analysis has caught the attention of crypto fans, adding to the growing interest in Dogecoin’s short-term direction.
For now, DOGE’s price stays within the triangle pattern, waiting for a breakout that could set its next trend.
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