Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13105
Markets: 101189
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
13105
Cryptocurrencies
60.37%
Bitcoin Share
NewsBTC 2025-03-10 23:30:58

Dogecoin To $2 Could Be Next If DOGE Holds This Level: Analyst

Dogecoin To $2 Could Be Next If DOGE Holds This Level: Analyst

An analyst has explained how Dogecoin could observe a significant rally next if its price can hold the bottom level of this pattern. Dogecoin Is Currently Testing The Lower Bound Of An Ascending Channel In a new post on X, analyst Ali Martinez has discussed about a long-term pattern forming in the weekly price of Dogecoin. The pattern in question is the “Ascending Channel” from technical analysis (TA), which is a type of Parallel Channel. A Parallel Channel is a consolidation pattern in which the price of the asset remains locked between two parallel trendlines. The upper level of the channel is likely to provide resistance, while the lower one can be a point of support. Related Reading: This Bitcoin Signal Aligns With Price Tops, CryptoQuant Analyst Reveals Breaks out of either of these lines can imply a continuation of trend in that direction. That is, an escape above the channel is bullish, while a drop under it is bearish. Parallel Channels can be categorized into three types, based on the alignment of the trendlines with respect to the coordinate axes. Channels that are slopped upwards (that is, those that have trendlines that follow higher lows and higher highs) are known as Ascending Channels. While an asset is inside this type of channel, its price witnesses consolidation to the net upside Similarly, those of the opposite orientation are called Descending Channels and represent consolidation to the net downside. The third case, where the trendlines are parallel to the time-axis, has no special name. Now, here is the chart shared by the analyst, that shows an Ascending Channel that the weekly price of Dogecoin has been trading inside for the past decade: As is visible above, the 1-week Dogecoin price has witnessed a sharp decline recently and is nearing in on the lower level of the channel situated at $0.16. The last time that the memecoin retested the line was during the last few months of 2024 and it successfully found support back then. “All eyes on Dogecoin $DOGE! If it holds this level at $0.16 and bounces, a move to $2 could be next!” notes the analyst. This $2 target is roughly around where the asset would meet the middle line of the channel, a level that has also shown interactions with its price in the past. Related Reading: Bitcoin Bullish Signal: $900 Million In BTC Leaves Exchanges It only remains to be seen, though, whether the memecoin will indeed find support and the Ascending Channel will continue to hold. There is always the chance of a breakdown with patterns like these, which, as mentioned earlier, can lead to bearish price action. DOGE Price At the time of writing, Dogecoin is floating around $0.176, down more than 20% over the last seven days. Featured image from Dall-E, charts from TradingView.com

Most Read News



Cryptohopper
Market Cap
24h Vol
60.37%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.