Dogecoin Holding Strong—Analyst Says $4 Rally Could Be Next

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Dogecoin Holding Strong—Analyst Says $4 Rally Could Be Next - NewsBTC

Quick Summary:

Although many altcoins have gone through boom‐and‐bust cycles in their histories, the attached chart reveals that DOGE has largely respected this upward‐sloping range for more than a decade.“DOGE is holding strong above the upper boundary of this channel, keeping the path open for a potential rally toward $4! ” Martinez claims. Dogecoin Poised For $4?

Related Reading: Whales Accumulate 100 Million Dogecoin In 24 Hours – Demand Signals Growing Confidence At present, Dogecoin sits near $0.25, placing it above the channel’s lower boundary but also below the dashed lower trendline that has consistently served as a reference for major breakouts.

Fibonacci analysis featured on the chart shows multiple levels spaced throughout Dogecoin’s history.The 0.618 retracement at around $0.06654 stands out for having captured the lows of the 2022 bear market, while the 0.786 Fibonacci mark near $0.19183 served as a consolidation pivot before the current move higher.