Dogecoin's recent upward Witnessed a brief setback on Thursday as its price dropped to levels below $ 0.17. However, the themed dog -themed coin re -formed its walk and slightly bounce over $ 0.18 for a few hours, reflecting its stableness. In the Doge showing noticeable reversed momentum, many lovers of pointing to an extension of the ongoing rally at higher price levels.
Doge gearing up for a larger rally
At the time of writing, DOGE's price increased to the $ 0.18 mark with a strong rebound. Meanwhile, Memecrypto, an analyst and businessman, claims That Dogecoin seems to start something greater from the current level of $ 0.18.
According to the expert, DogecoinThe momentum is not random and the structure is natural formation, which indicates a breakout from the integration. This breakout is observed by the lens of momentum and exponential moving averages (EMA).
Meanwhile, the next major resistance can be found at $ 0.24, and a pushing area can start a greater trend at the current speed. While Emotion remains carefulMemecrypto noted that markets are not waiting for lateComers, and the next impulse can be a Fomo claim.
A 600% gaming price explosion for Dogecoin
After a prolonged period of downward actionDogecoin returned to the spotlight due to the updated price rally. While the popular coin meme flashes bullish signals, trader tardigrade, a market expert and investor, have Outlined An incoming raid, suggesting an ongoing rally at a higher level.
Specifically, the expert predicted a 600% price rally in the short time, pushing the meme coin to a new time high in continuous rotation. This expected advancement may be marked with an important moment in the emerging narrative in the Doge's market, driven by a combination of Technical breakoutsincreased trading volume, and the consumer's failed interest again.
The trader tardigrade trader forecast is based on previous upward trends caused by a bounce from an ascending support trendline. Looking at the chart in the 3-day time frame, the ascending support trendline opens for months, beginning October 2023 to the present.
The first time DOGE reached the climbing support trendline in October 2023, the Meme coin Witnessed more than 200% increase in the following months. In the second example of 2024, DOGE's price went up more than 400% to new annual highs after pressing the upward support trendline.
Meanwhile, a similar development has opened up recent dogcoin price actions. Because each time resulted in a larger return, the Tardigrade Trader was confident that a strong progress of +600% could be at the end. As observed on the chart, the upcoming +600% rally will take the D Doer price at a level of $ 0.93, marking a new high time.
By the basic support holding the middle of the bullish waves, it indicates that the Doge is building momentum for an upside down as Step the bulls to defend the rally. Trader Tardigrade Highlighting That Dogecoin returns to the order block zone, which will provide great support for the coin meme. If the zone holds strong against the bearish pressure, the price of the Doge can rebound towards the major resistance levels.
Featured image from shutterstock, chart from tradingview.com
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