Dogecoin is starting to upward momentum attack as the entire crypto market begins to receive important entriesespecially in the last 24 hours. This notable increase in entry has seen Dogecoin price rise particularly around 16% in the last 24 hours and the $0.40 price level now appears to be within reach again.
According to a technical outlook from crypto analyst Kevin (@Kev_Capital_TA), Dogecoin needs to clear a macro gold bag of around $0.49 to validate a stronger upward move towards new all-time highs.
The Macro Golden Pocket at $0.49: the first barrier
Kevin, crypto analyst recently shared his ideas at X, highlighting the critical Dogecoin resistance levels that must be overcome before the cryptocurrency can embark on a journey towards new all-time highs. Using projected Fibonacci extension levels from Dogecoin’s previous bear market low in 2022/2023, Kevin plotted key price points for bulls, starting with the macro gold bag at $0.49.
Kevin identified $0.49 as the “golden macro pocket,” the first major resistance zone that Dogecoin must conquer to initiate a bullish breakout. This level represents a significant extension point on the Fibonacci indicator and is located around the 0.65 Fib. Interestingly, the $0.49 gold macro pocket served as a peak of Dogecoin’s intriguing rally in late 2024. Dogecoin’s rejection at $0.49 started a correction, which eventually recovered at the 0.382 Fib extension level.
Breaking above $0.49 would put Dogecoin at its highest price in almost four years. This, in turn, would certainly provide the strength for further bullish momentum and give Dogecoin bulls the confidence to drive the price higher.
Path to new all-time highs: subsequent resistance levels at $0.53 and $0.59
Crypto analyst Kevin also highlighted the key price points to watch out for when Dogecoin finally breaks above the macro gold mark of $0.49. Following a breakout of $0.49, the next critical resistance lies at $0.53, marked by another key Fibonacci retracement level at 0.703.
Beyond $0.53, Dogecoin will face what Kevin described as the “final boss” at $0.59. Interestingly, this price is also marked by another Fib extension level at 0.76. This level has historical significance as a threshold before Dogecoin reached its current all-time high in 2021. The last time Dogecoin managed a clear break above $0.59 at the 0.76 Fib Extension, it only took a few days. reach its all-time high. maximum of 0.7316 dollars.
With this in mind, another clean break above $0.59 It would pave the way for Dogecoin to challenge its previous all-time high and explore uncharted price territory.
At the time of writing, Dogecoin is trading at $0.389 and is up 15.5% and 23.5% in the last 24 hours and seven days, respectively.
Featured image from Pixabay, TradingView chart
