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Dogecoin (DOGE) Price: 19.7% Two-Week Rally Breaks Through $0.196 Resistance Level
Dogecoin has witnessed a remarkable two-week rally, with its price surging by an impressive 19.7%. This upward momentum has led to a significant breakthrough, as DOGE has managed to break through the key resistance level of $0.196.
The cryptocurrency’s remarkable performance has raised hopes among traders and investors, who are now focusing on the potential targets that could be achieved in the near future. It is essential to note that Dogecoin’s price action mirrors a similar setup seen in December 2020, when the asset experienced a massive 36,000% surge.
Crypto analyst CryptoKaleo has been monitoring DOGE’s performance and has identified some crucial insights from the chart analysis. According to the expert, there is a possibility of DOGE reaching prices between $1 and $2.4 if the current trend pattern repeats itself. It is important for investors to remember that these projections should not be taken as investment advice.
As far as the near-term perspective goes, CryptoKaleo has identified two primary targets: $0.23-$0.25 supply zone and a possible support area around $0.19. The market expects DOGE’s price to move towards the former target, which represents approximately 27% upside from current levels.
In order to sustain this upward momentum, there needs to be continued demand for the asset. Additionally, Bitcoin’s performance is likely to have an impact on DOGE’s potential targets and overall trajectory.
Source: blockonomi.com
