Technical charts now point to $0.43 as the next major hurdle, and a breakout above it could send Dogecoin to fresh highs.
Dogecoin Price Analysis
The Dogecoin price has consistently created higher lows since June 2022.
At first, the upward trend was extremely gradual, but it picked up in October 2023, creating a steep ascending support trend line (green icons).
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The following string of bullish signs came in July, when the price of Dogecoin broke out from a descending resistance trend line (dashed) and the $0.22 horizontal area.
Currently, the Dogecoin price is consolidating above the $0.22 horizontal area, preparing for another push toward $0.43.
The $0.43 area is the range high, and a breakout above it could take Dogecoin to a new all-time high price.
While it is still unclear if that will happen, momentum indicators predict at least a push toward the range high.
In this bullish prediction, the Dogecoin price has started another five-wave upward movement.
If that is the same length as the previous one, Dogecoin will reach a new, all-time high price of $1.30.
What the count has going for it is the short-term movement.
If the long-term count transpires as illustrated, the Dogecoin price will have to begin a parabolic short-term increase soon, precisely what the daily chart predicts.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
