The Dogecoin price is once again at are critical point after retesting the mutli-year trendline. However, according to two chartists the popular meme\u2010inspired token could be on the verge of a major breakout. Crypto Balo (@btcbalo) and Cas Abb\u00e9 (@cas_abbe) both shared technical charts suggesting a new leg up for DOGE, highlighting specific price thresholds, Fibonacci retracement levels, and a recently confirmed bullish pattern.<\/p>\n
On the three\u2010day DOGE\/USDT chart published by Balo, Elliott Wave markers (labeled (1) through (5) and A\u2010B\u2010C) indicate that the market completed a corrective phase near the $0.15 region. This conclusion rests on a cluster of technical signals, including a strong support zone and visible convergence in trading volume. According to Balo, the final wave of the broader correction appears to have ended in the low\u2010mid teens, which he believes has solidified into a key inflection point.<\/p>\n
Balo draws<\/a> special attention to several Fibonacci levels on his chart. He notes that $0.2350 aligns with the 0.618 Fibonacci retracement, while $0.1671 marks the critical 0.786 retracement. In his view, a sustained price above the 0.786 retracement is essential for maintaining Dogecoin\u2019s bullish momentum. Balo further references the 1.0 retracement at $0.0805, labeling it as a major cycle low from previous years but emphasizing that DOGE has not revisited that level for a considerable period.<\/p>\n Based on these observed price structures, Balo anticipates that Dogecoin could move sideways for a brief period to gather momentum. He underscores a likely doubling in price before DOGE encounters its \u201cnext major resistance\u201d near $0.3552\u2013$0.36. In his words, \u201cDOGE looks like a bottom to me. Could go sideways for a bit<\/a> to build momentum but we should be good for a 2x from here before the next major resistance. Once we reclaim $0.36 we can start talking about new ATHs again.\u201d<\/p>\n Thus, he identifies $0.36 as the inflection point that could pave the way to reclaiming historic highs above $0.76, but stresses that he wants to see a decisive break above this resistance first. Until then, he sees $0.15 as a robust support floor and maintains confidence that DOGE\u2019s price action may mimic its bullish structure from September 2024.<\/p>\n DOGE\u2019s Falling Wedge Breakout<\/p>\n Cas Abb\u00e9\u2019s shorter\u2010term analysis, plotted<\/a> on a four\u2010hour chart, points to a classical falling wedge formation<\/a>. Following a decisive move beyond the wedge\u2019s upper trendline, Abb\u00e9 suggests that buyers have taken the initiative to reverse the prior downtrend.<\/p>\n A key factor in Abb\u00e9\u2019s assessment is the Relative Strength Index (RSI). He notes that the RSI dipped briefly into oversold territory\u2014an occurrence often regarded as a reliable indicator that selling pressure has reached an extreme. Since then, the RSI has rebounded into the low\u201050s range, signaling the possibility of renewed bullish momentum. Citing these technical developments, Abb\u00e9 comments, \u201cDOGE falling wedge breakout. 4H RSI entered the oversold zone which is an obvious bottom signal. If BTC doesn\u2019t lose its momentum, DOGE could rally towards $0.22\u2013$0.25 in the coming weeks.\u201d<\/p>\n At press time, DOGE traded at $0.17.<\/p>","protected":false},"excerpt":{"rendered":" The Dogecoin price is once again at are critical point after retesting the mutli-year trendline. However, according to two chartists the popular meme\u2010inspired token could be on the verge of a major breakout. Crypto Balo (@btcbalo) and Cas Abb\u00e9 (@cas_abbe) both shared technical charts suggesting a new leg up for DOGE, highlighting specific price thresholds, […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56289","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56289"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56289"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56289\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}