Major Hindrances To Dogecoin Price Hitting $1 According To This Crypto Analyst
A cryptocurrency analyst known as “Trading Jesus” on X (formerly Twitter) has unveiled a roadmap for Dogecoin to reach $1. Analyst Highlights Meme Coin’s Major Hurdles By Highlighting Dogecoin’s Resistance and Support Levels Reached $1 milestone.
Dogecoin price roadmap reaches $1 target
in his X postsTrading Jesus shared Dogecoin Chart The 1-hour time frame shows the support and resistance levels as Dogecoin price targets the $1 mark. Currently trading at $0.36, crypto analysts say next resistance level The price of Dogecoin is $0.44.
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This critical level could trigger major selling pressure As investors begin liquidating their memecoin holdings. However, if Dogecoin can successfully break above $0.44 levels, the meme coin may Entering bullish phaseits next price high is around $0.56.
Trading Jesus Highlights $0.56 Price Increase profit taking level Traders and investors can start selling their Dogecoin for potential gains. Analysts also pointed to higher resistance at $0.73336 if Dogecoin can sustain the bullish momentum above this level.
At the $0.73336 resistance level, Trading Jesus predicts that the price of Dogecoin could surge towards the coveted $1 milestone. His chart revealed Dogecoin’s next bullish target If its price continues to rise, it will be $0.996.
On the other hand, Trading Jesus also shows Dogecoin support levels If it fails to break through the key resistance level. First support at $0.34 represents a critical level where buyers may step in if Dogecoin prices decline. This support level will eventually act as a barrier to prevent further price declines.
if Dogecoin drops Below the $0.34 support, the cryptocurrency may face further downward pressure leading towards the $0.25 mark. if More callbacks occurTrading Jesus revealed that Dogecoin price may bottom out at a new low around $0.18.
Analysts Still Bullish Despite DOGE Price Drop 8%
Although analysts expect Dogecoin price hits $1others predict the popular meme coin will hit even higher all-time highs. X Previous Cryptocurrency Analyst Known as “Cantonese Cat” unveiling DOGE weekly price chart predicts a jump to $4.
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On the chart, analysts indicate that Dogecoin is about to hit the $0.42 price level, which is the 0.786 Fibonacci level. A break above this level could trigger a surge to 1.618 Fib, which represents Price rises over $4.0.
The Cantonese cat revealed that investors and traders may have three to four weeks to accumulate Dogecoin’s current price of $0.36 before it surges to $4.
Featured image created using Dall.E, chart from Tradingview.com
