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The price of the dogecoin to challenge Wider weakness of the market By establishing a series of upper stockings. In the middle of the market slowdown, the technical indicators suggest that Dogecoin could prepare the ground for a explosive rally, Analysts predicting an increase of 270% at a new price.
Dogecoin price is preparing 270%
A Dogecoin price table common By crypto analyst, Javon Marks reveals a critical change in the momentum. Following a prolonged downward trend that saw the Same corner price crash At important stockings, Dogecoin has now emerged from a descending trend linesignaling the potential end of its bear cycle.
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Since reaching a low cycle, Dogecoin has always displayed higher hollows – a common sign of increasing purchasing pressure and a regular positive trend. Following the formation of his latest higher higher level, Marks believes that Doge is now positioned in an upward configuration.
Historically, similar patterns have preceded parabolic movements in the price of Dogecoin, which suggests that the meme piece could prepare for a Continuation to the trend. According to Marks’ analysis, if Dogecoin follows the established trend, the next impulsive wave could push its price to $ 0.653, marking an explosive overvoltage of 270%.
While higher higher training supports the probability of the analyst’s projected rally, the recent escape from Dogecoin’s descending trend strengthens its bullish structure. Marks also suggests that a rise in $ 0.63 could serve as a launch block for Dogecoin, which potentially has led its even higher price to $ 1.25 if its momentum persists.
Despite the continuous market volatilityDoge continues to Maintain key support levels Because he looks at a new escape. In particular, an increase in the objective of $ 1.25 would mark an impressive increase of 681.25% compared to the current market value of the memes part of $ 0.16.
Doge faces made or level level
According to Crypto Ali Martinez analyst, the Dogecoin price is currently at a point pointwhich means that his next movement could determine if he sees a significant break or a tall drop. Sharing a table of prices highlighting Fibonacci retractions and trend channels, the analyst revealed This Dogecoin is sitting on a key ascending trend line which has acted as support since 2018.
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This trend line aligns with 0.796 Fibonacci trace level At $ 0.16, the marking a crucial support area. If Dogecoin is up above this level, it could trigger a bullish continuation, with the next major Fibonacci extension level at $ 0.57. Overcoming this price mark could also propel Dogecoin to FIB from 1,272 to $ 2.77.
On the other hand, if Dogecoin breaks below $ 0.16, the next major support is around the FIB from 0.618 to 0.06 $. The analyst’s graph also highlights a possible ventilation at $ 0.0066 or even as low as $ 0.0016 if The lowering momentum persists.
Istock star image, tradingView.com graphic
