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As Monday came to an end, the overall crypto market observed a minor retraction in bullish activity, leading Dogecoin‘s value to dip momentarily to the $0.174 support point. Despite this brief downturn, there is continuing enthusiasm in the sector regarding DOGE’s upcoming performance, with numerous crypto analysts forecasting significant price increases in the near future.
An Essential Level Dogecoin Must Regain To Ascend
While Dogecoin may have undergone a temporary decline, the broader outlook indicates a more substantial upward trajectory for the dog-themed meme currency. Nonetheless, DOGE must surpass crucial resistance thresholds to stimulate this expected major rally.
In a recent evaluation shared on the X platform, Ali Martinez, a skilled technical and on-chain analyst, has foreseen a potential surge for Dogecoin toward its present all-time peak of $0.74. While the analyst anticipates a considerable increase in value, he has emphasized a pivotal aspect in the journey back to the summit.
Analyzing his diagram, the meme currency is navigating within a rising parallel channel. Moreover, DOGE currently encounters a vital challenge at a significant price point that may dictate whether the ongoing rally possesses enough vigor to persist. Notably, this area has previously acted as a launchpad for past surges, as observed in late 2024 and the first quarter of 2025.
As the positive trend progresses, Ali Martinez has identified the $0.20 threshold as the subsequent crucial area in DOGE’s quest to regain its all-time peak. If the meme currency can secure a monthly close above the $0.20 resistance, the expert believes it might pave the way for the anticipated surge to $0.74, positioned at the 1.0 Fibonacci level.
Moreover, a breakthrough above this level would signify strong bullish activity and could likely attract more investor interest. Such an increase in investor engagement is expected to play a significant role in the forthcoming price rise.
Conversely, if DOGE fails to surpass this zone and falls back, the ongoing upward trajectory may be jeopardized by a steep descent. Should a sudden decline occur, the next essential support level rests at the $0.065 price point.
DOGE Establishes A Low At The 0.382 Macro Fibonacci Level
Exploring the current price movements, Kevin Capital, a crypto analyst and trader, revealed that Dogecoin has seemingly formed a low at the precise level noted over the past several months at the macro 0.382 Fibonacci level and the broader declining channels.
The expert also pointed out that the weekly Relative Strength Index (RSI) has reached the exact level where it has been gradually decreasing since the bear market’s nadir. Nevertheless, each time the price touches that level, it tends to rise again, indicating increased long-term strength in the asset.
DOGE is witnessing a confirmed Stoch RSI cross on the weekly timeframe, while a verified cross on the 2-week timeframe is still awaited. Its risk-reward ratio appears remarkable due to minimal downside and substantial upside potential. Although the analyst points to a possible pullback, the overall trend is still attempting to shift.
Featured image from Getty Images, chart from Tradingview.com
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