Dogecoin price to breakout to $1.4? The analyzer detects critical levels that must be monitored for a pump to fail or fail
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the Dogecoin price The company is going through a critical phase as the cryptocurrency analyst has identified key price levels that could dictate its next significant move higher. With the number one meme currently trading above $0.34, the analyst said He predicts A breakout to $1.4 if bullish conditions remain favorable and a price collapse to new lows if Dogecoin fails to reach a critical level.
Dogecoin price: will it rise or collapse?
According to a cryptocurrency analyst at TradingView known as “Mindbloome-Trading,” the price of Dogecoin is about to soar. Exponential pump This will push its value above the coveted $1 mark. The cryptocurrency expert provided a video chart analysis, highlighting $0.46 as the value Crucial resistance level for Dogecoin. This price point corresponds to the 0.382 Fibonacci level, which is often a major hurdle in technical analysis.
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A market expert at TradingView suggested that if Dogecoin crosses the $0.46 resistance level, it could happen. Ignite a march Which pushes the meme coin to its next upward target at $1.4. Such a move would likely be driven by increased demand and Buying pressure From investors.
On the other hand, analyst A Bearish forecast for Dogecoin. He noted that if Dogecoin fails to maintain the support level at $0.3, the meme coin could be at risk of a severe decline. A predicts DOGE price collapse To a lower support level at $0.23, making new lows for the price not seen since 2024.
A decline to the $0.23 level could send bearish signals to the market, which could lead to… Increased selling pressure And more declines. The analyst revealed that Dogecoin is currently going through a support phase, and its next price movements may determine the direction of its future value.
As cryptocurrency expert TradingView shares his bullish and bearish forecasts for Dogecoin price, his detailed video chart shows… Dogecoin price movements From 2020 to 2024, highlighting key peaks and troughs that indicate past fluctuations. The chart also identifies key support and resistance areas using Fibonacci extension and retracement levels to predict the next price level for MIM coin.
What is driving Dogecoin’s current trend?
Dogecoin price currently Experiencing sharp downward momentum Despite multiple bullish forecasts indicating an imminent rise. The main factors driving the bullish sentiment for Dogecoin in the cryptocurrency market are the recent ones Donald Trump’s inauguration As the new President of the United States (US) and the influence of SpaceX and Tesla CEO Elon Musk, who created the new Department of Government Efficiency (Doug) lonliness.
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Despite expectations of a rally, Dogecoin fell 9.64% in one day to trade at $0.34, according to CoinMarketCap. However, analysts on the popular social media platform X remain optimistic, predicting significant price increases in the future.
Notable one prediction Cryptocurrency analyst and Dogecoin proponent David Butler suggests that the popular meme coin could rise 100X to $34. While this forecast may seem somewhat ambitious, the analyst is confident that a price increase to this level is inevitable.
Featured image from Unsplash, chart from Tradingview.com
