The cryptocurrency market is holding its breath; today's performance of Dogecoin may ignite tomorrow's market! Renowned analyst Ali Martinez issues a strong warning: the $0.25-$0.26 range is DOGE's 'death zone.' Historical data shows this area has ruthlessly strangled bulls multiple times, with every breakout attempt ending in disastrous failure!
Martinez emphasizes in his latest analysis that the $0.25-$0.26 range is not only a technical fortress but also a psychological ultimate test! Past breakout attempts (marked by black arrows) were violently suppressed by bears, forming a 'blood and tears defense line.'
If DOGE can break through and stabilize at this level today, it will mean: a complete reversal of market sentiment—bears defeated, FOMO (fear of missing out) sentiment exploding! Buying pressure surges—May 17 may see an epic surge!
However, if the breakout fails, DOGE may once again fall into the abyss, returning to the hell of fluctuations below $0.20!
Martinez also reveals key on-chain signals: a surge in daily active addresses—retail and institutional investors are rushing in! Whale trading volume is skyrocketing—'smart money' has started to position itself, with large buy orders creating an undercurrent!
Historical experience shows that whale movements often indicate significant price volatility, and this time, the data points to a 'DOGE frenzy' that may erupt on May 17!
Technical indicators have issued a 'buy' alert! Both RSI and MACD are bullish, with RSI (62.25) not yet overbought, indicating significant upward potential! The MACD golden cross has the blue line crossing above the orange line, signaling strong bullish momentum!
The Fibonacci key level of 1.618 Fib ($0.141) has been broken and turned into strong support! The 2.618 Fib ($0.115) is the final line of defense; if broken, the bull market dream will shatter!
