doge
Dogecoin Rally To $0.35 Could Trigger Massive Short Squeeze
Published
4 weeks agoon
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Dogecoin (DOGE) could be on the cusp of a significant price move that might ignite a powerful short squeeze, according to analyst Ali Martinez (@ali_charts). He pointed out on January 27, via X, that “$766.45 million in short positions will be liquidated if Dogecoin DOGE rebounds to $0.35,” implying that bearish traders stand on precariously thin ice.
Massive Dogecoin Short Squeeze Incoming?
A look at the up-to-date liquidation heatmap from Coinglass shows hefty short positions clustered between roughly $0.339755 and $0.34368. Coinglass data shows $464.8 million at $0.339755, $534.79 million at $0.34054, $503.97 million at $0.341325, $433.04 million at $0.34211, and $325.29 million at $0.34368, bringing the total to around $2.26 billion in potential forced liquidations.
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That figure underscores the magnitude of a possible short squeeze should DOGE climb above that tight range. Coinglass describes its heatmap as a way “to predict where liquidation levels are likely to initiate,” and has also underscored that “liquidations play a crucial role in the cryptocurrency market” because they can influence rapid price swings when traders with large leveraged positions are forced to close out.
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Coinglass emphasizes the value of understanding “high liquidity areas,” since they can serve as magnet zones where big players, sometimes referred to as whales, seize the opportunity to execute sizable trades. Traders often jump on liquidation clusters at advantageous prices, which then paves the way for sharp reversals. In the case of Dogecoin, that magnet zone is now sitting just below $0.35.
Martinez’s analysis of DOGE aligns with the broader technical picture, which suggests the token may be at a make-or-break juncture. Since December 8, when Dogecoin briefly surged to $0.4834, the price action has been defined by a descending trendline. Although DOGE broke above this line on January 15, 2025—indicating a potential bullish shift—broader market volatility on January 26 quickly dragged it back below.
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The result is a scenario in which the descending line, now around $0.335 to $0.34, stands as a formidable barrier. A successful breach of that zone could be pivotal, especially given the sheer concentration of shorts that Coinglass has identified just above it. Should DOGE rally enough to pierce that level, traders holding short positions may be forced to cover quickly, and that wave of buying pressure can rapidly accelerate an upward move.
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Meanwhile, DOGE remains above the crucial 0.382 Fibonacci retracement near $0.313, a support level that prevented further downside during the latest market sell-off. The next technical support lies deeper on the chart, near $0.212 (0.236 Fibonacci retracement), where traders will be watching closely for any sign of weakening momentum.
On the upside, the 0.5 retracement at $0.394 remains a key pivot. A sustained recovery above that threshold might spark greater bullish confidence, with potential resistance emerging again around the 0.476 to 0.592 region if Dogecoin can regain enough force.
Featured image created with DALL.E, chart from TradingView.com
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doge
Dogecoin (DOGE) Flatlines—Is a Breakout or Breakdown Coming?
Published
2 days agoon
February 21, 2025By
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Dogecoin started a fresh decline below the $0.2620 zone against the US Dollar. DOGE is now consolidating and struggling to clear the $0.2550 resistance.
- DOGE price started a fresh decline below the $0.270 and $0.2620 levels.
- The price is trading below the $0.2580 level and the 100-hourly simple moving average.
- There was a break above a connecting bearish trend line with resistance at $0.2540 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could start another increase if it clears the $0.2550 and $0.2620 resistance levels.
Dogecoin Price Struggles To Gain Pace
Dogecoin price started a fresh decline below the $0.2750 zone, unlike Bitcoin and Ethereum. DOGE dipped below the $0.270 and $0.2620 support levels. It even spiked below $0.2550.
A low was formed at $0.2420 and the price is now attempting to recover. There was a move above the 23.6% Fib retracement level of the downward move from the $0.2830 swing high to the $0.2420 low. There was also a break above a connecting bearish trend line with resistance at $0.2540 on the hourly chart of the DOGE/USD pair.
However, the pair is struggling to settle above the $0.2550 resistance level. Dogecoin price is now trading below the $0.2540 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2550 level.
The first major resistance for the bulls could be near the $0.2625 level or the 50% Fib retracement level of the downward move from the $0.2830 swing high to the $0.2420 low. The next major resistance is near the $0.2720 level.
A close above the $0.2720 resistance might send the price toward the $0.300 resistance. Any more gains might send the price toward the $0.320 level. The next major stop for the bulls might be $0.3420.
Another Decline In DOGE?
If DOGE’s price fails to climb above the $0.2550 level, it could start another decline. Initial support on the downside is near the $0.2500 level. The next major support is near the $0.2450 level.
The main support sits at $0.2420. If there is a downside break below the $0.2420 support, the price could decline further. In the stated case, the price might decline toward the $0.2350 level or even $0.2220 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.
Major Support Levels – $0.2500 and $0.2420.
Major Resistance Levels – $0.2550 and $0.2620.
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doge
Dogecoin (DOGE) Stuck In Limbo—What’s Holding Back The Recovery?
Published
4 days agoon
February 19, 2025By
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Dogecoin started a fresh decline below the $0.270 zone against the US Dollar. DOGE is now consolidating and might face hurdles near $0.2550.
- DOGE price started a fresh decline below the $0.270 and $0.260 levels.
- The price is trading below the $0.260 level and the 100-hourly simple moving average.
- There is a connecting bearish trend line forming with resistance at $0.2560 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could start another increase if it clears the $0.2560 and $0.2600 resistance levels.
Dogecoin Price Faces Resistance
Dogecoin price started a fresh decline from the $0.2840 resistance zone, like Bitcoin and Ethereum. DOGE dipped below the $0.270 and $0.260 support levels. It even spiked below $0.250.
A low was formed at $0.2420 and the price is now attempting to recover. There was a move above the 23.6% Fib retracement level of the downward wave from the $0.2830 swing high to the $0.2420 low. The price even cleared the $0.2500 resistance level.
Dogecoin price is now trading below the $0.260 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2550 level. There is also a connecting bearish trend line forming with resistance at $0.2560 on the hourly chart of the DOGE/USD pair.
The first major resistance for the bulls could be near the $0.2620 level or the 50% Fib retracement level of the downward wave from the $0.2830 swing high to the $0.2420 low. The next major resistance is near the $0.2670 level.
A close above the $0.2670 resistance might send the price toward the $0.300 resistance. Any more gains might send the price toward the $0.320 level. The next major stop for the bulls might be $0.3420.
Another Decline In DOGE?
If DOGE’s price fails to climb above the $0.260 level, it could start another decline. Initial support on the downside is near the $0.2480 level. The next major support is near the $0.2420 level.
The main support sits at $0.2350. If there is a downside break below the $0.2350 support, the price could decline further. In the stated case, the price might decline toward the $0.2220 level or even $0.2150 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.
Major Support Levels – $0.2480 and $0.2420.
Major Resistance Levels – $0.2600 and $0.2620.
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Avalanche
Analyst Says XRP Setting the Stage for a Breakout, Updates Outlook on Avalanche, Dogecoin and PEPE
Published
5 days agoon
February 18, 2025By
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A closely followed crypto strategist thinks that payments altcoin XRP is gearing up for a burst to the upside as it prints a bullish continuation pattern.
Trader Ali Martinez tells his 126,300 followers on the social media platform X that XRP appears to be on the verge of a breakout as it forms a cup-and-handle pattern.
The structure suggests that an asset is bullish as buyers step in to prevent prices from revisiting recent lows.
Says Martinez,
“If XRP is following a cup and handle pattern, a breakout could set the stage for a move toward $3.35!”
Looking at the trader’s chart, he seems to suggest that XRP will trigger a breakout after breaching the pattern’s resistance at $2.80. At time of writing, XRP is trading at $2.74.
Turning to the layer-1 protocol Avalanche (AVAX), Martinez says the altcoin will likely see a rise in demand once it falls to the lower boundary of a wide trading range.
“The key support level for Avalanche AVAX stands at $20!”
Based on the trader’s chart, he seems to suggest that AVAX is trading between a range high of $56 and a range low of $20. At time of writing, AVAX is worth $24.95.
Looking at top memecoin Dogecoin (DOGE), the trader believes the altcoin is carving a local bottom at a key Fibonacci retracement level.
Traders use the Fibonacci tool to spot potential entry and exit points based on the Fibonacci ratio.
“Dogecoin DOGE has pulled back to the 0.618 Fib level, also known as the Golden Ratio. This is a key area where bullish reversals often occur!”
According to the trader’s chart, he suggests that DOGE needs to hold $0.25 to have a shot at reversing its downtrend. At time of writing, DOGE is worth $0.266.
As for fellow memecoin Pepe (PEPE), the analyst warns that the altcoin needs to hold its diagonal support to avoid witnessing a deep corrective move.
“This is a crucial level for PEPE. If it holds above $0.0000092, a rebound could follow. But a break below may open the door for a move toward $0.0000032.”
At time of writing, PEPE is trading for $0.00000978.
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