Crypto folks are getting excited about what’s happening with Dogecoin’s price lately. Crypto expert CEO with over 500k followers shared on X (formerly Twitter) that DOGE might shoot up to $1.00 or even higher, saying the charts look ready for a big move. Looking at how DOGE is trading, the numbers hint that we could see prices climb soon.
What you'll learn 👉
DOGE Chart Analysis: Bullish Chart Pattern Observed
The daily chart for Dogecoin demonstrates a classic technical setup, featuring a symmetrical or ascending triangle pattern. This formation consists of a horizontal resistance line near $0.488 and an ascending support trendline, with price action consolidating within this structure. Historically, such patterns indicate a likelihood of continuation in the prevailing trend upon breakout.
The chart reveals that Dogecoin’s price recently broke above the upper resistance level, accompanied by a strong upward move. This breakout is depicted by a vertical projection on the chart, indicating a potential target between $0.70 and $0.75. The measured move is based on the height of the triangle added to the breakout point, which aligns with the bullish sentiment highlighted in the tweet.
Support and Resistance Levels
Key price levels have played a pivotal role in Dogecoin’s recent activity. The support zone, defined by the ascending trendline, has consistently been tested around $0.40 to $0.45, serving as a foundation for price rebounds. Meanwhile, resistance at $0.488 proved to be a critical level before the breakout, which occurred with strong upward momentum.
If this momentum sustains, the next significant price target remains the psychological level of $1.00, as suggested in the tweet. The breakout also indicates increased trading volume and positive sentiment, factors often associated with substantial price movements in cryptocurrencies.
Read Also: Expert Makes Bold Cardano (ADA) Price Prediction, Reveals Key Entry Zone
Tweet Aligns with Chart Analysis
The tweet by CEO directly correlates with the observed price action. By declaring that the “chart is primed,” the post reinforces the bullish breakout narrative seen in the technical analysis. The author’s mention of “$1.00 & beyond” suggests a belief in continued upward momentum, supported by the robust pattern identified in the chart.
While the chart indicates a strong bullish setup, the trajectory of Dogecoin’s price will depend on external market factors and broader sentiment. Breakouts often attract increased attention, and Dogecoin’s ability to sustain its momentum may shape its price in the near term. Analysts and traders will be monitoring key levels closely as DOGE approaches potential milestones.
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