Dogecoin (DOGE) Price on the Verge of a Rally: Just One Resistance Left

Ali presents a Dogecoin (DOGE) chart that shows a clear descending channel or flag pattern. This pattern commonly occurs during a consolidation phase that follows an uptrend.

Currently, DOGE is trading around $0.139, with a noticeable resistance zone identified at approximately $0.143, marked in gray on the chart.

According to the analyst’s insights, if Dogecoin manages to break through this resistance level, it could indicate a potential continuation of its previous upward trajectory.

Read Also: Shiba Inu Holders, Take Note! Analyst Reveals Game-Changing Development for SHIB Price

The analyst projects that a successful breakout above $0.143 could lead to a significant rally of about 25%, potentially elevating DOGE’s price to around $0.175. This projection is supported by the upward arrow in the chart, which suggests a price target contingent on a successful breakout.

Such a breakout would likely generate increased buying momentum, further propelling the price toward the $0.175 level. If DOGE fails to surpass the resistance at $0.143, the price may remain in a consolidation phase within the current pattern.

Celebrate Dogecoin and Make Big Gains with Doge2014!

Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo