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DOGE Technical analysis of Dogecoin: If the key resistance level breaks through, it may be expected to hit US$0.177.
The latest analysis from cryptocurrency analyst Ali shows that Dogecoin may be on the verge of major price changes. A number of technical indicators are converging, and Ali pointed out that if Dogecoin can break through a critical resistance zone-30 billion DOGE units in the region previously changed hands-the probability of a rise will increase significantly.
Technical Signals and Market Patterns
Ali emphasized the importance of Tom DeMarc's series indicators. This indicator recently sent a potential buy signal on the monthly chart of Dogecoin, triggering market speculation that Dogecoin may be about to undergo a trend reversal.
Ali pointed out that a similar technical structure appeared in August 2022: the inverted hammer pattern appeared at the same time as the TD buy signal, accompanied by a forming cross star line. In the following month, dogcoin rose 145%.
Currently, the chart of Dogecoin is repeating this pattern: a reverse hammer, a TD series buy signal, and a new cross star line are forming. If history repeats itself, next month's candle chart could trigger a round of sharp price fluctuations. The current price structure of Dogecoin is highly consistent with the pattern before the 145% rally in August 2022. Key technical indicators and candle chart patterns both show strong upward momentum.
Whale Positions and Recent Price Trend
In addition to technical signals, on-chain data also shows that large companies are preparing for potential gains. In the past week, Whale Address has increased its holdings of more than 430 million DOGE units, further strengthening the bullish view implied by the chart pattern.
Despite these positive signals, the recent price fluctuations of Dogecoin have been limited. Since June 25, the cryptocurrency has remained trading within a narrow range of $0.068 to $0.08. The price is currently at US$0.069, and the recent "dead fork" pattern on the hourly chart suggests that traders may need to be cautious in the short term.
Outlook for key resistance levels
Ali pointed out that US$0.0813 is the primary resistance level that needs to be paid attention to at present. This level has proven difficult to overcome since Dogecoin suffered a fierce sell-off at this level on June 23. Due to the large number of DOGE changes in this price range before, it has become an important turning point in the short-term prospects of Dogecoin.
If the daily closing price can continue to stand above US$0.0813, it may confirm upward momentum, opening up space for further gains. The next target position can refer to US$0.177 in the URPD distribution chart. If Dogecoin successfully recovers US$0.0813 and builds support here, traders are expected to break through its recent volatility range. Once it breaks through and closes above $0.0813, market focus will shift to $0.177-based on volume data, this will be the next major resistance level for Dogecoin.
Given the rapid changes in digital asset markets, such as the impact of Federal Reserve policies or the unexpected launch of altcoins, flexibility in responding to technical barriers is crucial for traders. In this environment, maintaining sensitivity to technical critical points becomes key.
