Dogecoin can now do or break the next movement, according to the latest analysis by crypto analyst Ali Martinez at a significant moment in the market cycle. In an article on the social media platform X, Martinez, Dogecoin’s ability to start a rally, Hold on an important support zone About $ 0.16.
Estimated is based on a technical work of Dogecoin’s long -term price movement, which shows that the breast mine has been continuing a consistent rise trend channel since 2015 and leaps between support and resistance levels in each cycle.
Eight -year upgrade channel on Dogecoin’s weekly candlestick graph
Ali Martinez’s Taurus view In technical analysis Dogecoin’s weekly candlestick graph. Analyst said that Doge has been locked in an increasing channel that has been identified with higher and higher abortions over the years since 2015.
This structure repeatedly pushed the money to the highest levels of all time during the rise periods, while at the same time defining the limits for corrections in the bear markets. The channel itself is divided by two halves with a upward trend line that serves as both support and resistance.
Martinez believes that the same installation can be re -shaped. Dogecoin’s price encountered resistance close to $ 0.48 in December 2024 And he’s been fixed since then In the last three months, downwards. Breast mine money is currently traded close to the lower trend line of the upward channel, And the reaction here The rest of the year can or orbit the price or break.
A jump from $ 0.16 can trigger an increase towards $ 14
Lower support tendency is very important in Dogecoin price rallies, the last role in the quarter of the year 4.24. At that time, Dogge returned to the rally, which was located around 0.09 dollars and saw that the price increased by 430%. During writing, the low -trend line support, which should have a higher level of high levels, is now around the price level of $ 0.16.
Optimal movement Dgecoin’s recovery on this sub -trend line and Martinez stressed that keeping $ 0.16 can serve as a launch ramp for a large rally. If the support level is valid, Dgecoin predicts that it may begin to rise to the middle range of the channel, which is estimated to be around $ 2.5.
Moving for $ 2.5 would send the Dogecoin trade at the highest levels of all time and turn the medium -range trend line into a support level. The ongoing strong acceleration will ultimately push Dogecoin to reach the upper limit of the channel to about $ 14. However, there may be corrections between these movements.
. Disadvantage of failure Keeping this support is equally important. Falling below 0.16 dollars causes the support trend to shift down. In this case, Dogge may be vulnerable to deeper losses and long -term consolidation. During writing, Dogecoin is trading at this address $ 0.1754 increases 3.5% in the last 24 hours.
The prominent picture from Getty Images, graphics from tradingView.com
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