A notable market analyst examined beyond the correction of the short-term Dogecoin price, sharing an ambitious target following a rebound in a crucial support zone.
While Bitcoin True above the psychological level of $ 100,000 after its January 20 thrust to a new summit of all time, altcoins like Dogecoin have traced considerably. The memes piece on the dog’s theme has lost the bullish traction which stimulated the wild race in the fourth quarter 2024.
For the context, Mastiff increased by more than 160% in November, continuing the race in early December to a multi -year summit of $ 0.4846. However, the largest part of market capitalization has held up more than 31% since then, with the inauguration of Donald Trump and the official launch of the Government Department (DOGE) Impossible to change the trend.
Meanwhile, a recent analysis shared an overview of the recent behavior of the Dogecoin prices and what awaits us for the prominent memes piece.
Correction with major support in view
In a recent tradingview analysisThe “MyCryptoparadise” market commentator stressed that the weekly Dogecoin period suggests that it is in the correctional phase. The analyst noted that predominant prices action to the south is aligned with the holding of the assets of central support for a long -term uptime tendency.
A graphic that accompanies it shows that Dogecoin has a story of a retest support after a structure rupture. For the context, the assets retested the support of around $ 0.0,06151 in June 2023 after an escape at $ 0.1515 in October 2022.
Dogecoin also achieved a similar feat in August after a structure rupture three months before. The same corner retests the support around $ 0.0880 with the correction.
Consequently, “Mycryptoparadise” suggested that Dogecoin retains the areas in which he broke out in November. Dogecoin has resumed its bullish explosion in support at $ 0.1512 before switching to the December 8 summit, and the analyst says that he will return to the request zone before any other increase in sustainable price.
The next Dogecoin target after the retest
Meanwhile, the analyst has placed an ambitious target for Dogecoin on a successful retest. According to the comment, it will increase more than 12,611% for a bold peak of $ 42 on a rebound in the support area.
In addition, it did not set a calendar for the high objective. However, he urged enthusiasts to buy the decline and monitor the overall feelings of the market to confirm a reversal of support or a continuation of the decline.
Interestingly, “Mycryptoparadise” joins a list of other analysts to place an ambitious target for the memes piece. For a perspective, the prominent market speculator Ali Martinez predicted that Dogecoin reach $ 23Citing a continuation of its cyclic fractal scheme.
Meanwhile, Dogecoin is negotiated at $ 0.3,3321, up almost 2% in the last day.
Difles: This content is informative and should not be considered financial advice. The opinions expressed in this article may include the author’s personal opinions and do not reflect the basic opinion of cryptography. Readers are encouraged to do in -depth research before making investment decisions. The Crypto Basic is not responsible for financial losses.