Dogecoin price Struggle The level of $ 0.20, with the Mimi currency sliding under this main threshold in recent trading sessions. After a A brief attempt to pay upDogecoin found itself strengthening approximately $ 0.17, an important support level. According to the Crypto analyst, Ali Martinez, this level contract can be the basis for the main apostasy. Martinez shared his analysis on the X social media platform, expecting this if Dogecoin maintains support At $ 0.17, it can contribute to a strong raising about $ 2.74.
Dogecoin price needs to be supported above $ 0.17
Dogecoin’s work has been highlighted in the past two weeks by a continuous decrease alongside the rest of the encryption market. The fixed Dogecoin price has witnessed that it loses multiple support levels at $ 0.3, $ 0.25, $ 0.22, and more recently $ 0.20. With DOGECOIN is now less than $ 0.2, the next prominent support level for restoration is $ 0.17, which may determine whether the long -term rising trend remains intact or facing a collapse.
This is a multi -year bullish trend, which has been present since 2017, It was recently highlighted In technical analysis on the X social media platform by Martinez. As shown in the DOGECOIN price scheme below, the Meme currency has been traded within the upper trend line of its highest levels and a line lower than its lowest level in the market. The resulting bullish trend is divided into the upper and lower end by the middle direction line.
As has seen the dynamics of the modern market and the decline of Dogecoin on the way to re -testing the lower direction line of this multi -year upward trend. The current market conditions put this lower line about $ 0.17.
image From x: ali_charts
The bold price goal of $ 2.74
The optimal status of the bullish direction for Dogecoin Bulls will be to keep trading over $ 0.17. As long as the mem currency bears above this threshold, the budget trend structure remains intact, and there is sufficient possibility for a strong upward trend.
Martinez’s analysis indicates that if Dogecoin maintains support at $ 0.17, he may suffer from a great outbreak at any time, and pay To the highest levels ever. It is striking that the analyst suggested that Dogecoin be free to move towards a target at $ 2.74, which will put him above his highest level ever at $ 0.7316.
Although this may seem bold given Current market conditionsThis goal in the middle direction line divides the bullish trend into two equal halves. Meanwhile, the upper limits of this multi -year formation indicate a more optimistic scenario with a long -term potential goal above $ 14.
At the time of writing this report, Dogecoin is traded at $ 0.1847, after it decreased by 3.15 % over the past 24 hours. If Dog fails to carry $ 0.17, he may face another negative aspect with a possible recovery $ 0.14 or even less.
Distinctive image from Unsplash, tradingvief chart
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