Dogecoin Price Eyes $0.70 as Bulls Challenge the $0.36 Resistance
Dogecoin price has gained momentum following the recent rally across the cryptocurrency market, signaling renewed bullish sentiment. The coin has bounced strongly from the $0.20 support levels, maintaining its upward trajectory within a well-defined rising channel.
The price is now approaching middle price and may soon retest the $0.25 resistance that proved a challenge to upward trends. To maintain a rally in the short term, it will be imperative to remain above the level of $0.23, so as to keep a bullish trend.
DOGE has gained approximately 10% over the last week, thanks to constant purchasing pressure and the ability to shake off short-term decreases. There is a potential of a gain of 17 % to the point of $0.36 threshold being realized by market participants in case the momentum continues.
Clearing this resistance could pave the way for a stronger push toward the upper boundary of the channel. Analysts suggest that maintaining the current trend may position Dogecoin for a potential long-term target near the $0.70 zone.
Dogecoin Price Eyes Rally Beyond $0.36
The market analyst Ali has posited that the price of Dogecoin will experience massive rally in case it goes past the $ 0.36 mark. Based on his analysis, breaking this price point could eliminate significant resistance, and then a possible increase to $0.70 becomes possible.
Using the UTXO Realized Price Distribution data presented by Glassnode, it can be seen that there is heavy accumulation at the price of $0.36, which means a lot of activity is happening at this price. Overcoming one level, another prominent resistance seems to be further, which sets up an easy route to a quick upward rise.
Ali’s post on X highlights that investor positioning could accelerate a breakout if bullish momentum continues. The chart illustrates historical buying levels, with $0.70 emerging as a realistic target if current resistance is overcome.
Dogecoin’s current market sentiment remains positive, supported by increased trading volume and renewed investor interest.
DOGE Price Holds Support, Eyes Key Resistance Levels
The latest Dogecoin price is trading at $0.2310 after holding above the $0.22 support zone in recent sessions. Bulls managed to lift the price earlier in the week, briefly touching $0.2400 before facing selling pressure.
On the negative front, the 0.2200 support level is a vital support, and this is followed by the stronger floor at 0.2000. A break lower than 0.2200 would be a selling invitation that can retest the lower range.
Source: Tradingview
The Relative Strength Index (RSI) is at around 53, meaning a neutral momentum that is neither strongly overbought nor over sold. The Awesome Oscillator displays less green momentum bars, which implies cooling upward pressure.
Should buyers recapture control and drive higher above the $0.2400 level, the next upside destination will be reached at the level of $0.2500 and ultimately up to $0.2700. On the other hand, continued depreciation might trigger a retracement to the $0.2200 positio,n and should it break such level a test at the 0.2000 level could ensue.
Dogecoin Price Eyes $0.70 as Bulls Challenge the $0.36 Resistance
Dogecoin price has gained momentum following the recent rally across the cryptocurrency market, signaling renewed bullish sentiment. The coin has bounced strongly from the $0.20 support levels, maintaining its upward trajectory within a well-defined rising channel.
The price is now approaching middle price and may soon retest the $0.25 resistance that proved a challenge to upward trends. To maintain a rally in the short term, it will be imperative to remain above the level of $0.23, so as to keep a bullish trend.
DOGE has gained approximately 10% over the last week, thanks to constant purchasing pressure and the ability to shake off short-term decreases. There is a potential of a gain of 17 % to the point of $0.36 threshold being realized by market participants in case the momentum continues.
Clearing this resistance could pave the way for a stronger push toward the upper boundary of the channel. Analysts suggest that maintaining the current trend may position Dogecoin for a potential long-term target near the $0.70 zone.
Dogecoin Price Eyes Rally Beyond $0.36
The market analyst Ali has posited that the price of Dogecoin will experience massive rally in case it goes past the $ 0.36 mark. Based on his analysis, breaking this price point could eliminate significant resistance, and then a possible increase to $0.70 becomes possible.
Using the UTXO Realized Price Distribution data presented by Glassnode, it can be seen that there is heavy accumulation at the price of $0.36, which means a lot of activity is happening at this price. Overcoming one level, another prominent resistance seems to be further, which sets up an easy route to a quick upward rise.
Ali’s post on X highlights that investor positioning could accelerate a breakout if bullish momentum continues. The chart illustrates historical buying levels, with $0.70 emerging as a realistic target if current resistance is overcome.
Dogecoin’s current market sentiment remains positive, supported by increased trading volume and renewed investor interest.
DOGE Price Holds Support, Eyes Key Resistance Levels
The latest Dogecoin price is trading at $0.2310 after holding above the $0.22 support zone in recent sessions. Bulls managed to lift the price earlier in the week, briefly touching $0.2400 before facing selling pressure.
On the negative front, the 0.2200 support level is a vital support, and this is followed by the stronger floor at 0.2000. A break lower than 0.2200 would be a selling invitation that can retest the lower range.
Source: Tradingview
The Relative Strength Index (RSI) is at around 53, meaning a neutral momentum that is neither strongly overbought nor over sold. The Awesome Oscillator displays less green momentum bars, which implies cooling upward pressure.
Should buyers recapture control and drive higher above the $0.2400 level, the next upside destination will be reached at the level of $0.2500 and ultimately up to $0.2700. On the other hand, continued depreciation might trigger a retracement to the $0.2200 positio,n and should it break such level a test at the 0.2000 level could ensue.
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