Dogecoin Price Breakout To $0.5 Confirmed If It Breaks This Channel Resistance

Despite the current trading range between $ 0.22 and $ 0.23 in the past 48 hours, Dogecoin is still On a noticeable recovery From the lowest level in April Near 0.13 dollars on the larger time frame. Interestingly, the technical analysis of the largest time frame, especially the candlestick graph for one day, indicates that fixed climbing has placed Dogecoin at the upper limits of a convergence channel that has set prices since December 2024.

The price movement within this structure was characterized by a lower and low -lower lower lower lower. However, modern activity indicates an increase in difficult pressure, with Dogecoin now Try to penetrate public resistance.

The outbreak of the canal can lead to an unmissable pump

According to the Crypto MMBTRADER analyst, which he published by Dogecoin On the tradingview platformDogecoin is about to break the important breakdown that can lead to an indisputable pump if the price is made in wiping the resistance of the concession channel.

The timeline scheme for the formation of the explanatory daily candlestick with the analysis indicates that once Dogecoin is scanned on the upper direction line of the concession channel, it can be paid by the hard bullish momentum to the price of $ 0.3. This level, which was previously a great support between December 19, 2024 and January 2, 2025, can now act as a critical resistance to move forward.

However, the most important level of breaking the highest new levels ever is $ 0.4. Fracture above $ 0.4 with momentum It will not only confirm the upcoming reflection, but it can also confirm the gathering towards higher goals at $ 0.75 and Until $ 1 in the long run.

The collapse above $ 0.27 is a final confirmation

With the descending channel structure into the current DOGECOIN price levels, any sure outbreak is higher than $ 0.27 will serve as a strong upward signal. Also noted the importance of the price level of $ 0.27 by MMBTRADER.

If Dogecoin managed to close a daily candle over $ 0.27 with a strong support for this step, he will refer to a A clean break above Channel resistance and nullifying the broader downward trend over the Mimi currency price in its highest level of $ 0.48 in December 2024.

Such penetration will not represent just unification for months, but it may also open the door for fast rapid momentum. However, until this penetration is achieved, Dogecoin is still at risk of rejection back on the resistant trendline line. On the other hand, the analyst highlighted $ 0.205 and $ 0.180 as closer support levels.

A Less collapse than these levels It would delay the bullish preparation, but it will not necessarily slow it down unless Dogecoin is to unify deeper than $ 0.13. Until then, the upward batch towards the upper direction line is still playing, and the definite penetration will make the Dogeusdt pump without stopping.

At the time of this report, Dogecoin is traded at $ 0.224, a decrease of 1.4 % over the past 24 hours.

Distinctive image from Getty Images, Chart from TradingView.com

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