The crypto market’s been a bit shaky lately, with Dogecoin dropping to around $0.21. But don’t count DOGE out just yet!
Signs of a Dogecoin Breakout
One crypto analyst, Trader Tardigrade, sees a potential rally on the horizon. They’ve spotted a pattern on the DOGE chart that suggests a breakout could send the price towards $0.4.
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The Consolidation: DOGE has been consolidating below the $0.25 resistance level. This is actually the second time this has happened recently. The analyst thinks a shakeout below $0.21 will get rid of weaker investors, clearing the way for a breakout.
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The Breakout Target: Once that breakout happens, the prediction is a strong push towards $0.4 – a level last seen in late January. This is a significant resistance level, but breaking through it could fuel further gains.
Hidden Bullish Signals
There’s more evidence pointing to a potential DOGE upswing. Trader Tardigrade also noted a “hidden bullish divergence” on the RSI (Relative Strength Index). This means the price is making lower lows, but the RSI is making higher lows – a bullish signal.
Another analyst, Ali Martinez, agrees, highlighting $0.26 as a key resistance level. Breaking through this could signal the start of a significant bullish phase.
The Bottom Line
While the crypto market is volatile, several analysts are predicting a potential Dogecoin rally. The $0.4 mark is a key target, but breaking through the $0.25 or $0.26 resistance levels would be the first crucial steps. Keep an eye on DOGE!
