- Dogecoin’s recent surge sees it trading at $0.169, up 9.78% over 24 hours and 40% weekly.
- Analyst Ali predicts Dogecoin could reach $1 by mid-April, drawing parallels with historical price patterns.
- Dogecoin’s price action indicates a potential retest of $0.20 resistance or fallback to $0.12 support level based on buyer behavior.
Dogecoin is trading at $0.169, marking a significant 9.78% increase over the previous 24 hours. Moreover, the cryptocurrency has witnessed a remarkable weekly surge of approximately 40%.
Crypto analyst Ali has caught attention with a daring forecast regarding DOGE’s price trajectory. Ali suggests that Dogecoin could reach the $1 mark by mid-April, drawing parallels from historical price trends. Presenting a comparative chart of Dogecoin’s past performance, Ali highlights similarities between the current price pattern and previous bullish markets observed in 2017 and 2021.
According to Ali’s analysis, periods of significant price rallies are often preceded by phases of consolidation, characterized by range-bound trading. Should history repeat itself, Ali predicts a potential parabolic breakout for Dogecoin in mid-April, projecting a staggering 525% surge from its current valuation of approximately $0.17.
Examining Dogecoin’s recent price action, the cryptocurrency has steadily climbed from its low of $0.09 since February 26. Although there was a surge that pushed DOGE above the $0.20 resistance level on March 5, profit-taking prevented the breakout from being sustained.
At present, buyers are striving to maintain the price above $0.17, with Dogecoin reaching intraday highs of $0.172. Should buyers succeed in keeping the price above this level, a gradual retesting of the local peak at $0.20 could be anticipated. Conversely, a decline from current levels might lead Dogecoin to the $0.12 support level, where buyer interest is expected to increase.
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