Ali Martinez increased by 2% in the last 24 hours on Monday and now ended at about $ 0.15, he focused on the situation around the Dogecoin price.
According to Martinez’s analysis on Twitter, Dogecoin has left an important technical structure that supports its price since 2022. Logarithmic weekly graph shows that Dogge has broken the crypto currency’s recovery tendency under an increasing parallel channel that has been guiding for more than two years.
“Doge comes out of an increasing parallel channel and points to a potential movement towards $ 0.060!” Martinez stated in his tweet.
The current Doe price of approximately $ 0.145 is below the critical 0.786 Fibonacci withdrawal level of $ 0.16395. This level is around $ 0.0017 from 2021 height to $ 0.0017.
Since the structure serves as a rising ground of support during the healing of Dog, it is considered a casting month from this channel. With many weeks of candles, which were closed under this channel, the technical picture has worsening significantly.
#Dogecoin $ Dge It comes out of an increasing parallel channel by pointing to a potential movement towards $ 0.060! pic.twitter.com/p4nclpilnr
– Ali (@ali_charts) April 7, 2025
Historical Context and Doge Price Target
Martinez’s target of $ 0.060 is exactly compatible with the 0.618 Fibonacci retreat level from $ 0.06167, which is typically a strong support. Falling reverse. If it is reached, this represents approximately 60% decrease from the last heights.
When we look back, Dogecoin rose rapidly in 2021 before falling. Later, during the 2022 and 2023 period, it was mostly between 0.05 and $ 0.10. Recently, Dogecoin has tried to rise above $ 0.20, but the price was wrong because it could not stay above the important trend line.
Although a movement for $ 0.06 still keeps Doge in a long-term rise structure (remaining above the consolidation zone of 2022-2023), such a decrease will represent a major correction in the short and medium term.
For Dogecoin owners, this technical casting serves as a warning sign that the largest Memorial Medallion may encounter a large pressure downward as long as it does not quickly recover its position in the rising channel.
Read also: Which crypto should buy over the bottom? These subcoins are currently looking for a serious worthless!
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