Dogecoin Holding Strong—Analyst Says $4 Rally Could Be Next
Crypto Analyst Ali (@ali_charts) publishing Weekly charts on TradingView, put Dogecoin (Doge) on top of the defined uptrend channel drawn in early 2014. Although many Altcoins have experienced booming and holiday cycles in their history, the attached chart shows that Doge has largely respected this upward slant of respect for more than a decade. “Doge Keep the intensity above the upper boundary of this channel, keeping the road open toward a potential $4 rally! ” Martinez claimed.
Dogecoin ready for $4?
The channel itself consists of two main bold lines, namely the lower and upper ranges of the price action, and the middle channel lines that define a series of dotted lines. In 2014, Dogecoin lasted $0.00017. One year later in March 2020, Dogecoin fell to $0.00134, a level corresponding to the 0% Fibonacci reference point on the chart.
From there, the price action begins to form a gentle upward trend that becomes clearer over time, interrupted by Spikes in 2017-2018, runs in mid-2019, most notably the massive 2021 The rally, when Doge soared to an all-time high, about $0.73905. After a sharp answer, the price briefly merged to close to $0.06654, with the area marked 0.618 Fibonacci Recycling. Doge then built up enough strength to climb to the level of 0.786 Aspergillus phenanthi, about $0.19183, which coincides with the midpoint of the downward ascending channel.
Related Readings
Currently, Dogecoin is at $0.25, putting it above the lower boundary of the channel, but also below is below the low trend line, which has been a reference for a major breakthrough. In April 2024 and December 2024, Doge was rejected on this trend line at $0.23 and $0.48, respectively. and Current calibrationDoge may have successfully completed a retest of its previous local high of nearly $0.23 and is now ready for the next rise.
It is worth noting that during the period when these dotted lines revolve around these dotted lines, usually before large directions move up and down. The current breakout above the dotted line below $0.50 near $0.50 may trigger Dogecoin’s next Major upward movement. Overall, from Ali’s perspective, overall takeaway is that Dogecoin remains structurally intact during this multi-year trend, which reinforces the idea of future price increases.
The Fibonacci analysis on the chart shows multiple levels of Dogecoin throughout. Around 0.06654 around 0.618 captures the lows of the 2022 bear market, while the 0.786 fibonacci Mark is close to $0.19183, a merger hub before the current move is higher.
Related Readings
Above 1.0 extension (2021 full-time height approximately 0.73905)) LISE key Fibonacci expansion target, i.e. 1.272 is close to $4.10, around 1.414, about $10.04, and 1.618 is close to $36.32. These levels provide a technical roadmap for the most optimistic scenarios, although each level becomes more speculative as prices need to break multiple psychological and technical barriers to reach them.
By recycling and holding above the upper boundary of the channel, Dogecoin appears to be on stage for another potential expansion phase. The graphical explanation shows that as long as Doge remains above this threshold, it retains a bullish structure, with price gains reliably rising over the past decade. However, if the price is to be below $0.0.19, it may slide toward the lower boundary of the channel, and may even break below it, destroying the channel Bullish case For Doge.
At press time, Doge’s trading price was $0.26791.
Featured Images created with dall.e, Charts for TradingView.com
