What Three Leading Analysts Are Keeping an Eye On
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Dogecoin’s recent surge from a low of $0.1298 at the end of April to an intraday high of approximately $0.2597 has propelled the popular meme asset into a critical technical territory, prompting fresh analyses from several leading market experts.
What Lies Ahead for Dogecoin?
Analyst Ali Martinez examines a 12-hour DOGE/USD chart, identifying a supply range between $0.25 and $0.27. This zone acted as a support level in December and February but has since turned into resistance following a breakdown in late February, repeating this role during recent rallies.
Martinez indicates points of failed attempts, marked by black arrows, and notes that the last 12-hour close registered at $0.24903, which is within the resistance band. He cautions, “Dogecoin has hit a pivotal resistance level!” Until bullish momentum can push beyond the upper threshold of $0.27, this area remains a critical pivot.
Rekt Capital shifts focus to a weekly perspective, highlighting a horizontal pivot at $0.22014, labeled as “Pre-Halving resistance” on the DOGE/USDT chart. Following a recovery of this level, the price is currently retracing back towards it, a move the analyst refers to as “a crucial retest of Pre-Halving resistance turning into potential support … The retest is ongoing. A green close indicates that $0.27 could be next.”
Additional Insights
The support area spans roughly between $0.19 and $0.22, positioned above an 18-month upward trend line converging near $0.15901. A strong defense of this zone could pave the way for advances towards the subsequent resistance levels at $0.27884 and $0.33817 identified by Rekt Capital.
Bitcoinsensus emphasizes momentum by applying a weekly MACD on the DOGE/USDT chart. The fast line is poised to cross above the signal line for the first time since late 2024. He points out that previous bullish crossovers preceded significant rallies, increasing around +165% to $0.23 and +330% to $0.48.
Additional Insights
Referencing this pattern, the analyst states, “A bullish MACD crossover for DOGE … Next Price Target: $0.72.” His analysis suggests a parabolic trajectory towards $0.72, while an ascending baseline established in March 2024 provides continued support in the mid-$0.15 range.
Together, these analyses place Dogecoin at a critical crossroads. A definitive rise above $0.27 would diminish the multi-month resistance zone emphasized by Martinez and support Rekt Capital’s weekly targets.
Conversely, failing to maintain that level or closing weekly under $0.22 would redirect focus towards the trend line and horizontal support in the high $0.15 range. For those trading on momentum, the impending MACD crossover might serve as a catalyst for Bitcoinsensus’ ambitious $0.72 forecast. For the moment, traders are observing whether the latest developments in this meme coin will unfold into significant growth.
At the moment, DOGE is valued at $0.22485.
Featured image created with DALL.E, chart from TradingView.com
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