Analyst Predicts Potential Dogecoin Price Rally as it Breaks Key Resistance Levels
The post Analyst Predicts Potential Dogecoin Price Rally as it Breaks Key Resistance Levels appeared on BitcoinEthereumNews.com. The Dogecoin price climbed above the $0.22 level this week, breaking out of a consolidation range since mid-2022. In a post on X, trader Kamran Asghar identified a repeating setup that previously led to significant price increases. Notably, the chart highlights a double bottom pattern, a structure often viewed as a bullish signal when confirmed with a breakout. A chart posted by the analyst includes three blue zones, each representing periods of accumulation. These periods are marked by relatively flat price movements, followed by strong upward breakouts once the asset clears resistance levels. – Advertisement – The first zone spans 2015 to 2017, where Dogecoin price ranged between $0.00012 and $0.00035 before moving sharply higher. The second covers mid-2019 to late 2020, with a price range of $0.0015 to $0.005. That breakout eventually led to Dogecoin’s all-time high of $0.7316. Meanwhile, from 2022 to 2025, the current consolidation has held within $0.055 to $0.22. The recent move above $0.22 is now seen as a potential early-stage breakout. Dogecoin is trading at $0.2216, a 4.1% decrease in the past day, increasing the weekly loss to 15.4%. However, the memecoin still maintains a 34% surge in the past month, coinciding with the broader market move. Double Bottom Breakout Signals Momentum Shift Meanwhile, the chart also illustrates a double bottom pattern inside the most recent accumulation range. This pattern forms when a price hits a similar low twice before reversing direction. It is often interpreted as a sign of buying strength and trend reversal, particularly when accompanied by increased volume. Asghar marked the $0.22 level as a breakout point. If Dogecoin holds above this threshold on a retest, the level may become solid support and confirm a possible shift toward a bullish trend. Notably, similar setups in the past have resulted in steep…
The post Analyst Predicts Potential Dogecoin Price Rally as it Breaks Key Resistance Levels appeared on BitcoinEthereumNews.com.
The Dogecoin price climbed above the $0.22 level this week, breaking out of a consolidation range since mid-2022. In a post on X, trader Kamran Asghar identified a repeating setup that previously led to significant price increases. Notably, the chart highlights a double bottom pattern, a structure often viewed as a bullish signal when confirmed with a breakout. A chart posted by the analyst includes three blue zones, each representing periods of accumulation. These periods are marked by relatively flat price movements, followed by strong upward breakouts once the asset clears resistance levels. – Advertisement – The first zone spans 2015 to 2017, where Dogecoin price ranged between $0.00012 and $0.00035 before moving sharply higher. The second covers mid-2019 to late 2020, with a price range of $0.0015 to $0.005. That breakout eventually led to Dogecoin’s all-time high of $0.7316. Meanwhile, from 2022 to 2025, the current consolidation has held within $0.055 to $0.22. The recent move above $0.22 is now seen as a potential early-stage breakout. Dogecoin is trading at $0.2216, a 4.1% decrease in the past day, increasing the weekly loss to 15.4%. However, the memecoin still maintains a 34% surge in the past month, coinciding with the broader market move. Double Bottom Breakout Signals Momentum Shift Meanwhile, the chart also illustrates a double bottom pattern inside the most recent accumulation range. This pattern forms when a price hits a similar low twice before reversing direction. It is often interpreted as a sign of buying strength and trend reversal, particularly when accompanied by increased volume. Asghar marked the $0.22 level as a breakout point. If Dogecoin holds above this threshold on a retest, the level may become solid support and confirm a possible shift toward a bullish trend. Notably, similar setups in the past have resulted in steep…
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