Jonathan Gray
Key Points
- Dogecoin costs are slowly heading towards $0.20. According to the analysis, if this process remains unbroken, we might observe a big jump.
- The rising trend is also proved by the Technical indicators and by the analysis of whale accumulation, with aims set at $1.1.
- There is an upward movement signal that will show if it rises above $0.21. If it decreases, it may drop to a $0.177 stability point.
According to the reports, Dogecoin’s growth has attracted other markets as its value price increased to an important level. Dogecoin coins show strong visible indications, and there is a high chance of Dogecoin surpassing the key level.
Continuously, the whole market is noticing the price movements to set up the potential of Dogecoin to continue the present growth movement.
Dogecoin Experiences Key Resistance Levels
At present, Dogecoin’s price is fluctuating near the $0.20 resistance level. In the previous phases, this price zone has been noted.
According to the crypto experts, Ali charts detected $0.177 as a key support level and $0.207 as the future ceiling. If Dogecoin increases higher than this criterion, then it could show clear signals of the start of a sharp increase.
One more expert, Trader Tardigrade, agreed about it and he says that Doge formed a similar pattern that was observed in the past bullish rally. However, the expert also said that Dogecoin is in its “collection phase”, and this has been observed before in the increasing giant move in the price.
According to the expert, if this pattern is continuously in progress, then Dogecoin is ready for its big movement increase.
Additionally, according to crypto investor Carl Moon, recently, Dogecoin has been in a narrowing downtrend pattern, and this pattern shows signs to signal a bullish movement.
Hello also says that the Dogecoin price is consolidating in a symmetrical triangle pattern in a short-duration frame, like the 60-minute chart.
The current price movement is quite thrilling for investors because this sideways movement pattern is mostly watched before a price surge.
Whale Acquisition and Market Perception
Evidently, whales are modifying their Dogecoin Locations and have been acquiring the cryptocurrency.
According to Ali Martinez, in the past two weeks increased purchasing pressure led to the collection of over 200 million DOGE. It clearly shows that the bigger holders, like institutional and high-net-worth holders, will probably be placed at a great price.
According to the reports the crypto expert Master Kenobi has predicted that Dogecoin might hit $1.1 by June if the current situation continues. However, other aspects such as the overall market, comprising the results of Bitcoin price, will also impact the value of Dogecoin.
According to the reports, if the free crypto market continues to be bullish, Dogecoin will definitely see growth in demand ahead of the selection of the DOGE ETF passed by the US SEC.
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing
