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How Low Can Dogecoin Go Before Rallying Again?

Published

4 months ago

November 15, 2024

Este artículo también está disponible en español.

Dogecoin (DOGE) has recently experienced a staggering rally. Over the span of eight days, DOGE surged nearly 200%, reaching a local peak at $0.4385 on Tuesday. This explosive growth propelled the daily Relative Strength Index (RSI) to almost 93, signaling strongly overbought conditions.

Since then, the Dogecoin price corrected by 19%, trading at $0.37 as of press time. However, according to crypto analyst Kevin (@Kev_Capital_TA), who has gained significant attention on X for his Dogecoin price analyses, the correction phase may not be over yet. In a series of updates, Kevin addresses how low Dogecoin can go before resuming its upward trajectory.

How Low Can Dogecoin Go?

“My first price target and a level we will want to hold for Dogecoin is the $0.30-0.26 range, which is the golden pocket retrace levels,” Kevin stated. “That’s a 30-40% correction from the local top, which in a bull market is a perfect size correction.”

Kevin further explained the significance of RSI levels in predicting market movements. “A healthy 1-3 week correction/consolidation to cool off indicators would be the most beneficial thing that can happen to Dogecoin. Happened multiple times on the way up in 2020-2021,” he noted. “My opinion still remains this occurs soon based off the technical data I am looking at.”

Drawing parallels to the previous bull market, he added: “Back in the 2020-2021 bull market for Dogecoin, it hit a 90+ on daily RSI three times, each time marking a local top or consolidation period before the next leg up. We just hit 90+ on the daily RSI for the first time, signaling that we potentially have 1-2 more legs up remaining in this bull market before we find the macro top. PS: The second and third legs were both bigger than the first leg.”

On the lower time frames, the Dogecoin price action formed a symmetrical triangle, a chart pattern often associated with periods of consolidation that precede significant price movements. Kevin observed: “Tracking this weird Dogecoin symmetrical triangle. Honestly a 50/50 which way this breaks. I still favor the correction due to daily RSI being 90+.”

The symmetrical triangle can serve as either a continuation or a reversal pattern, depending on market conditions. For the Dogecoin price, the breakdown from the triangle aligns with Kevin’s expectation of a correction due to overbought RSI levels.

To estimate the potential magnitude of the price drop following the breakdown from the symmetrical triangle, traders measure the height of the triangle’s base—the widest part of the formation. This measurement is then projected downward from the point of breakdown, providing a target for the price movement.

Applying this method to Dogecoin suggests a correction towards the $0.28 price level, which aligns closely with Kevin’s analysis targeting the $0.30-$0.26 range. “Looks like the correction I have been calling for the last couple of days is beginning on Dogecoin,” Kevin confirmed after observing the market movement. “Can’t go straight up, folks. Dips are healthy and reset the indicators so we can go higher. Hopefully nobody gets mad at me anymore for delivering the truth.”

As of press time, Dogecoin is trading at approximately $0.37, having retraced about 19% from its local top. The price appears to have found temporary support at $0.35, but with the daily RSI only resetting to 80—still in overbought territory—a continuation of the correction cannot be ruled out.

“A healthy 1-3 week correction/consolidation to cool off indicators would be the most beneficial thing that can happen to Dogecoin,” Kevin reiterated. “Happened multiple times on the way up in 2020-2021. My opinion still remains this occurs soon based off the technical data I am looking at.”

Featured image created with DALL.E, chart from TradingView.com

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Ali Martinez

Dogecoin Price Mirroring This 2017 Pattern Suggests That A Rise To $4 Could Happen

Published

2 days ago

March 25, 2025

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Crypto analyst KrissPax has revealed that the Dogecoin price is mirroring a pattern from a previous bull run. Based on this, he raised the possibility of a price surge to $4 for the foremost meme coin.

Dogecoin Price Mirroring 2017 Pattern As It Eyes Rally To $4

In an X post, KrissPax stated that the Dogecoin price continues to trade in a similar pattern to the 2017 bull cycle. He added that if the second large breakout of this cycle happens, DOGE could surge well over its current all-time high (ATH) of $0.73. His accompanying chart showed that the foremost meme coin could reach $4 when this price breakout occurs.

Crypto analyst Master Kenobi also recently mentioned that the Dogecoin price is mirroring a bullish pattern from the 2017 bull run. Like KrissPax, he also alluded to DOGE witnessing a second parabolic phase of its bull run, just like in 2017. However, he gave a more conservative prediction, predicting that DOGE could rally to $1.1 by June later this year.

The Dogecoin price already looks set for the second phase of its bull run, seeing as the foremost meme coin looks bottomed. Crypto analysts like Trader Tardigrade also suggested that DOGE has bottomed, having dropped to as low as $0.14. Now, the foremost meme coin could be targeting new highs, especially with the Bitcoin price also in rebound mode.

Crypto analyst Ali Martinez stated that the Dogecoin price is breaking out of a triangle, which can result in a 16% upswing. The target is a rally to $0.183, which could pave the way for a further rally to the psychological $0.2 price level. Dogecoin whales are also actively accumulating in anticipation of this price surge, as they bought over 120 million DOGE last week.

A Breakout Has Yet To Occur

While analyzing DOGE’s daily chart, Trader Tardigrade warned that the Dogecoin price hasn’t broken out just yet. His accompanying chart showed that the foremost meme coin needs to break above $0.185 to confirm the breakout. The analyst also noted that DOGE is struggling to break a descending trendline, as it continues to stay below this resistance after several attempts.

However, the analyst provided some positives for the Dogecoin price, stating that the RSI has shown a breakout, indicating that DOGE has gained significant momentum recently. He added that a strong uptrend could occur if this momentum continues to build. The accompanying chart showed that the meme coin could record a parabolic rally to as high as $0.5 if it breaks above $0.185.

At the time of writing, the Dogecoin price is trading at around $0.18, up over 4% in the last 24 hours, according to data from CoinMarketCap.

Featured image from iStock, chart from Tradingview.com

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Ali Martinez

Analyst Sets Dogecoin Next Target As Ascending Triangle Forms

Published

3 days ago

March 24, 2025

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Este artículo también está disponible en español.

Crypto analyst CobraVanguard has revealed the next price target for Dogecoin as an ascending triangle forms for the foremost meme coin. A rally to this price target could pave the way for the new highs, especially with the crypto market looking to be in rebound mode.

Next Target For Dogecoin As Ascending Triangle Forms

In a TradingView post, CobraVanguard set $0.197 as the next target for the Dogecoin price with an ascending triangle forming. He noted that this ascending triangle indicates a potential price increase. The analyst added that it is anticipated that the price could rise, aligning with the projected price movement of AB=CD.

Meanwhile, CobraVanguard warned that it is crucial to wait for the triangle to break before taking any action. His accompanying chart showed that Dogecoin needs to break above $0.177 to confirm a break above the ascending triangle. A break above that target would then lead to a rally to the $0.197 target.

Dogecoin already looks to be in rebound mode at the moment, alongside Bitcoin, which is nearing the $90,000 mark again. The foremost meme coin is nearing the $0.177 target for a break above the ascending triangle. As crypto analyst Kevin Capital suggested, DOGE will likely rally as long as BTC is in bullish territory.

Crypto traders are also betting on a Dogecoin rally to the upside. Crypto analyst Ali Martinez revealed that 76.26% of traders with open DOGE positions on Binance futures are leaning bullish. This is particularly bullish because Binance traders have a good track record of being right most of the time. In another X post, Martinez revealed that whales bought over 120 million DOGE last week, which is also bullish for the foremost meme coin.

DOGE’s Market Structure Has Shifted

In an X post, crypto analyst Trader Tardigrade revealed that Dogecoin’s market structure has shifted. This came as he noted that Dogecoin is recovering from an ascending triangle, forming higher highs and higher lows from lower highs and lower lows.

Based on this, the analyst affirmed that Dogecoin had shifted the market structure from a downtrend to an uptrend on the hourly chart since it just formed the second higher high. His accompanying chart showed that DOGE is eyeing a rally to $0.177 as it continues to form higher highs.

Martinez raised the possibility of the Dogecoin price rallying to as high as $4 or even $20 in the long term. He stated that if DOGE holds above the $0.16 support at the lower boundary of an ascending channel, history suggests that it could rebound toward the mid-range at $4 or upper range at around $20.

At the time of writing, the Dogecoin price is trading at around $0.174, up over 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Pexels, chart from Tradingview.com

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Trader Issues Urgent XRP Alert, Says the Top-Five Altcoin at Risk of Sharp Correction – Here’s His Target

Published

1 week ago

March 21, 2025

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Cryptocurrency trader Ali Martinez says a payments-focused altcoin must stay above a key price level to avoid a steep corrective move.

Martinez tells his 133,500 followers on the social media platform X that if XRP (XRP) falls below $2, it risks witnessing a deeper drawdown due to a lack of consolidation below the price level.

“XRP testing the waters! Below $2, a gap with no significant support could pull it to $1.60.”

Based on a chart citing on-chain data from blockchain analytics platform Glassnode, it appears that there’s an “air gap” between $2 and $1.60, indicating a weak foundation for XRP around that price zone.

XRP is trading at $2.56 at time of writing.

Next up is the layer-1 protocol Solana (SOL). According to Martinez, SOL is facing a “big test” at a resistance level a few percentage points above the current price.

“$135 stands as the most important resistance.”

The widely followed analyst further says that investors in the sixth-largest crypto asset by market cap are capitulating based on the altcoin’s net unrealized profit/loss metric (NUPL), an on-chain indicator that measures whether accumulators of a coin are in a state of profit or loss.

Based on the trader’s chart, SOL’s NUPL is hovering below the zero line, indicating that investors are witnessing losses and in the midst of capitulation.

Solana is trading at $132 at time of writing, down by around 55% from the all-time high price of $293 reached January 20th.

Looking at the top memecoin Dogecoin (DOGE), Martinez says that the altcoin has recorded significant demand in a week.

“Whale alert! Over 110 million Dogecoin bought up in a week. Big players are betting on a breakout.”

Dogecoin is trading at $0.173 at time of writing.

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