Dogecoin (Doge) may be preparing for a significant price break by technical indicators. According to expert analyst Ali Martinez, if Dogecoin initiates a upward movement from current levels, the price is likely to rise up to $ 5,80. This means about 20 times rise from the current price.
Critical levels for Dogecoin
Dogecoin is currently trading at $ 0.266 and has experienced a 4 %drop in the last 24 hours. However, Dogge, which gained 6 %on a weekly basis, is technically preparing to test significant resistance levels.
According to Martinez, $ 0.33 stands out as short -term resistance, while $ 0.58 is seen as a critical breaking point. If the Dogge exceeds $ 0.58 resistance, the price may rise to $ 1.80 and even to $ 5.80.
Taurus signals are seen in Dogecoin
Crypto currency analyst Trader Tardigrade said that Dgecoin’s momentum indicators pointed to the rise. According to the RSI (Relative Power Index) indicator, Doge has entered the ascension zone.
This technical model is similar to the formation observed before Dogecoin’s previous major rally. In February and July 2024, with the recovery of RSI from the over -selling zone, strong rise in the Dogge price was seen.
Dogecoin ETF is on the agenda
The Dogecoin community has long been waiting for the price of Doge to exceed $ 1. In order to achieve this goal, corporate investor interest needs to be increased. Achieving a spot ETF for Doge may accelerate this process.
SEC has recently announced that Grayscale has taken over the application of Dogecoin ETF. The start of the 240 -day examination process increases the likelihood of ETF approval, while corporate investors can turn to Dogecoin.
Technical Analysis: expectation of rise in Dogge
Dogecoin is currently traded under the 50 -day moving average (SMA) and 200 -day SMA. This shows that the bull trend continues in the long run, even though the short -term pressure in the short term.
The RSI value is 42,17, ie Doge is not in the over -purchase zone at the moment. This shows that the price is a potential area for upward movement. The first target for Dogecoin is to exceed $ 0.30, then to start a larger upward trend by breaking $ 0.58 resistance.
