Maintains the position above the level of critical technical support

TLDR

• Crypto analyst Ali identifies Dogecoin trading over an ascending channel of decade, suggesting a potential of movement upwards
• From its lowest of 2020 of $ 0.00134, Dogecoin showed a constant rise dynamic, reaching a summit of $ 0.73905 in 2021
• Currently exchanging nearly $ 0.25, Dogecoin is above the lower limit of the channel but below a key trend line which has historically preceded major price movements
• Fibonacci’s analysis points to potential future targets, the most optimistic scenario suggesting levels close to $ 4.10
• Technical analysis shows that DOGE must maintain a position greater than $ 0.19 to preserve the upward structure

A detailed technical analysis Posted by Crypto analyst, Ali (@ali_charts) revealed that Dogecoin (Doge) continues to negotiate over a key ascendant channel This dates back to the beginning of 2014. The analysis, shared on tradingview, shows how cryptocurrency has maintained this trajectory up for more than ten years.

The cryptocurrency, currently negotiating at around $ 0.25, shows membership of a clearly defined price channel delimited by two primary trend lines. This channel guided the action of Doge prices through several market cycles, providing both support during slowdowns and resistance during ascending movements.

By thinking about the history of Dogecoin prices, the analysis identifies several key prices. In 2014, DOGE exchanged below 0.00017, showing its humble beginnings. The cryptocurrency then experienced a notable hollow in March 2020, affecting $ 0.00134, which serves as a FIBONACCI reference point at 0% in technical analysis.

The following period in March 2020 marked the start of a sweet upward trend for Dogecoin. This movement gained momentum through several distinct phases, including price peaks in 2017-2018 and a notable race in mid-2019.

The most remarkable price action occurred in 2021 when DOGE reached its top of all time of approximately $ 0.73905. This peak represented a massive return for the first investors and demonstrated the potential for expanding prices in the established channel.

After reaching its peak, Dogi experienced a retrace and found a support nearly $ 0.0,06654, a level which corresponds to the retrace of fibonacci of 0.618. This price turned out to be crucial during the 2022 bear market, acting as a solid level of support.

The cryptocurrency later showed renewed resistance, pushing above the level of 0.786 FIBONACCI at around $ 0.19183. This level coincided with the median point of the lower ascending channel, adding technical weight to its importance as a support area.

A recent price action shows that DOGE retaining its position above the lower limit of the canal while remaining below a lower trend line in dotted lines. This trend has historically served as a reference point for major eruptions of the action of DOGE prices.

Technical data reveal that Doge Faced with a rejection to this trend twice in recent months – once in April 2024 almost $ 0.23 and again in December 2024 approximately $ 0.48. The current price action suggests a successful level of the level of $ 0.23, potentially being set up for the next higher movement.

The analysis includes several levels of fibonacci which have proven to be relevant throughout the history of the trading of Dogecoin. The level of trace from 0.618 to 0.06654 $ 0.06654 and the brand of 0.786 almost $ 0.19183 have all served as important technical reference points.

For the future, the analysis identifies several potential fibonacci extension targets. These include the extension of 1,272 almost $ 4.10, the extension of 1.414 to around $ 10.04 and the extension of 1,618 almost $ 36.32.

The technical structure suggests that Doge must maintain its position greater than $ 0.19 to preserve its upward perspectives. A drop below this level could lead to a test of the lower canal limit or potentially break the motif of decade.

Historical data show that the periods of action of the prices around the dotted lines of the canal often preceded the major directional movements. Doge’s current positioning compared to these lines suggests the potential of another substantial price movement.

The analysis indicates that a break above the lower dotted line, currently located nearly $ 0.50, could trigger the next major movement of Dogecoin. This level represents a key technical threshold for merchants and investors who look at cryptocurrency.

According to the latest data, DOGE continues to negotiate above the upper limit of the primary canal, suggesting the potential of another expansion phase in accordance with its historic model.

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