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The cryptographic analyst Ali (@ali_charts) has published A weekly table in TrainingView that places Dogecoin (Doge) directly above an ascending defining channel extracted from early 2014. Although many altcoins have gone through booming and driven cycles in their stories, the attached graph reveals that Doge has respected in Great measure this up. Inclined range for more than a decade. “DOGE It remains strong on the upper limit of this channel, keeping the road open for a possible rally towards $ 4! Martínez affirms.
Is Dogecoin prepared for $ 4?
The channel itself is composed of two primary bold lines, defining the lower and upper ranges of price action, as well as a series of medium channel discontinuous lines. In 2014, Dogecoin remained below $ 0.00017. Year later, in March 2020, Dogecoin fell to $ 0.00134, a level that corresponds to the reference point of 0% of Fibonacci in the table.
From there, the price action began to form a soft bullish trend that has become clearer over time, scored by peaks in 2017–2018, a race in mid -2019, and especially the massive rally in 2021 when Doge rose to a historical maximum of approximately $ 0.73905. After an acute setback, the price briefly consolidated about $ 0.06654, an area marked by the fibonacci setback 0.618. Doge then built enough strength to rise above the Fibonacci level of 0.786 around $ 0.19183, which coincided with the midpoint of the lower ascending channel.
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Currently, Dogecoin is close to $ 0.25, placing it above the lower limit of the channel, but also under the lower discontinuous lower trend line that has constantly served as a reference for the big sprouts. In April 2024, as well as in December 2024, Doge was rejected in this line of trend about $ 0.23 and $ 0.48 respectively. With the current correction, Dege may have successfully completed a new test of the previous maximum local about $ 0.23 and is now ready for the next increase.
In particular, the periods in which Doge has gravided around these discontinuous lines have often preceded large directional movements, both on the road and on the way down. A break on the lower discontinuous line that is currently around $ 0.50 could activate the next Dogecoin upward movement. In general, the general conclusion from Ali’s perspective is that Dogecoin remains structurally intact within this trend of several years, which reinforces the idea that future price expansions are possible.
The Fibonacci analysis presented in the graph shows multiple levels spaced throughout the history of Dogecoin. The 0.618 setback in around $ 0.06654 stands out for having captured the minimums of the 2022 bearish market, while the Fibonacci brand of 0.786 about $ 0.19183 served as a consolidation pivot before the highest current movement.
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Above extension 1.0 (the maximum 2021 All -Time Alro around $ 0.73905) Lie Key Fibonacci Extension Objets, namely, 1,272 about $ 4.10, 1,414 around $ 10.04 and 1,618 about $ 36.32. These levels provide a technical road map for the most optimistic scenarios, although each one becomes progressively more speculative, since the price would need to break multiple psychological and technical barriers to reach them.
When claiming and sustaining above the upper limit of the channel, Dogecoin seems to be organizing another phase of potential expansion. The interpretations of the graphics suggest that while Doge remains above this threshold, it retains an upward structure that has reliably channeled increasing prices during the last decade. However, if the price was reduced below $ 0.0.19, it could slide towards the lower limit of the channel or possibly even break down, thus destroying the Alcista de Doge case.
At the time of publication, Dege traded at $ 0.26791.
Outstanding image created with Dall.E, Record of TrainingView.com
