Dogecoin Pressing Range Highs – Can Bulls Push DOGE To ATH?
Dogecoin experienced minor gains yesterday, breaking out of local highs and reaching $0.484. The move has the DOGE community excited as the meme coin appears poised for further gains. However, prices have since retraced slightly, failing to confirm a breakout of this key resistance level.
Top analyst and trader Cheds has shared his insights on X, revealing that Dogecoin is approaching its range highs. According to his technical analysis, a confirmed breakout of these levels could set the stage for a sharp rally, potentially propelling Dogecoin to new all-time highs.
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Although recent price action has fueled optimism, the market remains cautious and bulls will need to maintain momentum to achieve a meaningful advance. Chez stressed the importance of breaking out of these key resistance levels and highlighted that a successful move could pave the way for Dogecoin to regain its bullish narrative.
Dogecoin is at a critical momentThe coming days will determine whether prices continue to climb higher or consolidate further. Now, all eyes are on the $0.484 mark as traders await confirmation of a breakout or signs of fresh selling pressure.
Dogecoin tests critical levels
Dogecoin is currently testing key liquidity levels around $0.44 and is below the key $0.50 mark, sparking strong interest from traders. These levels serve as both support and resistance levels and are critical in determining the dog’s next big move. Analysts believe that if Dogecoin can break through these thresholds, a clear path to new highs will emerge.
Top analyst and trader Cheds shared Detailed technical analysis of Xhighlighting that Dogecoin has been struggling with range highs since November 24. Despite multiple attempts, Dogecoin has struggled to confirm a decisive breakout that would mark the beginning of a new rally. Cheds said that once the Meme coin breaks through these key levels, a significant increase could occur, potentially pushing the price to challenge all-time highs for the first time since 2021.
This outlook is consistent with Dogecoin’s recent price dynamics, which have shown resilience despite higher market volatility. The next few days will be crucial as traders wait to see if DOGE can consolidate the breakout and sustain its upward momentum.
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A break above $0.50 and holding that level for a few days will boost Dogecoin’s rebound. If the bulls succeed, the market could witness another parabolic move, reviving the euphoria that historically drove DOGE to unprecedented highs.
Last supply level before rebound
Dogecoin is trading at $0.43 after weeks of sideways consolidation and multiple failed breakouts, leaving investors increasingly frustrated with its stalled price action. Although DOGE attempts to gain upward momentum, it is still struggling to break through key resistance levels, and the lack of a decisive breakout is testing the patience of market participants.
Currently, all eyes are on the $0.44 level, a key threshold for Dogecoin’s price trajectory. If Dogecoin is able to hold this level in the coming days, a breakout may finally materialize, potentially causing the price to surge to higher resistance areas and reignite investor enthusiasm.
However, downside risks remain significant. If Dogecoin fails to sustain current levels, it could face a deeper pullback, testing lower demand areas as investors reassess their positions. This could further dampen market sentiment, leaving the meme token vulnerable to continued consolidation or even bearish pressure.
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The next few days will be crucial for DOGE as the market awaits clear directional moves. Whether it breaks out or falls back to lower levels, Dogecoin’s performance in this range could set the tone for its price action heading into the end of the year.
Featured image from Dall-E, chart from TradingView
