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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Dogecoin Analyst Expects A ‘Multi-Year Bullish Breakout’ – 200% Surge Potential

Sebastian Villafuerte
Sebastian Villafuerte
9 months ago
3 mins read
Dogecoin Analyst Expects A ‘Multi-Year Bullish Breakout’ – 200% Surge Potential

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Dogecoin is trading critically, and investors are paying attention as this could shape next week’s price action. After several weeks of volatile market movements marked by sharp ups and downs, the entire crypto market is at a turning point. Many believe this week could set the stage for a massive rally.

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Top analysts and investors are weighing in, with prominent crypto analyst Ali sharing compelling data that projects a significant surge for Dogecoin in this cycle. According to Ali, if DOGE can break its resistance levels, it could spark a positive trend for the meme coin. 

This information has impressed many in the crypto space, as Dogecoin has been known for its explosive movements in past cycles. With so much on the line, the next few days could be pivotal for DOGE’s future.

Dogecoin Testing Crucial Resistance

Dogecoin is testing a crucial resistance at $0.115, with bulls waiting for a breakout that could trigger a new rally. According to crypto analyst Ali, Dogecoin potentially repeats a familiar historical pattern, as shared in his technical analysis on X.

Dogecoin multi-year bullish pattern.
Dogecoin multi-year bullish pattern. | Source: Ali on X

Ali’s chart reveals that DOGE has consistently followed a bullish cycle pattern: a breakout from a multi-year descending triangle, a massive 200% surge, followed by a 60% retracement, and then an eventual bull run.

Dogecoin has recently experienced a significant 65% pullback, which many believe could set the stage for its next explosive rally. If this pattern holds, DOGE may be on the brink of another major upward movement. Ali suggests that history often repeats itself in crypto, and Dogecoin appears poised to follow the same path.

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If Dogecoin starts pumping, the price action could be fast and aggressive, as has been the case in previous cycles. Investors are encouraged to closely monitor DOGE in the coming days. A breakout above the $0.115 resistance level could signal the beginning of the next bullish phase. This potential rally could bring significant opportunities for those tracking the market closely.

Technical Analysis: Key Levels 

Dogecoin is trading at $0.111 after a modest attempt to test the daily 200 exponential moving average (EMA) at $0.117. The price now faces a potential for a retracement if it fails to reclaim this key indicator. If DOGE cannot break above the 200 EMA, the price will drop to $0.10, signaling a deeper correction.

DOGE trading below the 1D 200 EMA.
DOGE is trading below the 1D 200 EMA. | Source: DOGEUSDT chart on TradingView

On the bullish side, if Dogecoin manages to push past the $0.12 mark, it could spark a new rally. The next significant supply level to test would be around $0.14, presenting a crucial target for bulls looking to gain momentum.

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As the market remains uncertain, the coming days will determine whether Dogecoin will continue its upward trend or face further downside pressure. Traders are monitoring these levels, as price action near the 200 EMA will dictate the next major move for DOGE.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

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To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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