Dogecoin’s price break resistance trend line may trigger a breakout of more than $1
Dogecoin’s price appears to witness a breakthrough beyond the psychological $1 level, which undermines the resistance trend line. Crypto Analyst Trader Tardigrade Provides a timeline of when it may reach new all-time highest level (ATH) as Doge Rallies develops.
After violating the resistance trend line, the price of domycin is above $1
exist X PostsTrader Tardigrade predicts that Dogecoin may exceed $1 after a break above the resistance trend line. He revealed that Dodge has entered the mid-term Resistance Trend Line At the same time, point out that there is no sign of error.
He added that this price change is very similar to that in February 2024, when momentum accumulated a lot of surges.
Therefore, he asserted that if Dogecoin price Perform a similar accumulation, and then there could be a huge surge in May 2025, with meme coins exceeding $1. The chart he accompanied shows that Doge rose to as much as $0.18 from around $0.09 as it witnessed a similar momentum last time.
In another X post, he also offers bullish outlook for Dogecoin prices. Analysts confirm Doge’s Wyckoff accumulation Didn’t miss it. Trader Tardigrade noted that in Phase C, the test after spring was a signature move accumulated by Wyckoff.
Meanwhile, there are several lows (LSP), intensity signs (SOS) and backup (BU) in the period D. He added that once Dogecoin consolidates the $0.18 range for some time, it will enter the E-phase to complete the mode and launch a massive rally for Meme Coin. Dog prices are expected to reach $0.26 before the E-stage rises to a new high.
Doge performs well in this cycle
In X posts, Crypto Analyst Kevin Capital It is pointed out that considering the macro situation of high interest rates, the reduction in money supply, high inflation and quantitative tightening, Dogecoin prices have been “abnormal” in this cycle. Based on this, he hopes that Doge will perform better when monetary easing starts to come in place.
He predicts that when the money supply increases and lowers interest rates, Dogecoin may reach at least $3, while the Fed is expected to start lowering interest rates in June and July. Analysts point out that inflation is also low, which is evident through the real shift indicator.
Therefore, quantitative tightening policies may end soon, which is optimistic for the leading meme coins. Worth mentioning Fed lowers interest rates last year.
At the time of writing, Dogecoin price is trading at about $0.18, up nearly 3% over the past 24 hours. data From CoinMarketCap.
Featured images from Unsplash, charts for TradingView
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