Apr 29, 2025
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Dogecoin May Rally to $0.74 If Monthly Close Exceeds $0.20
An analyst has highlighted a key technical pattern for Dogecoin that may influence future price movements.
Key Points on Dogecoin's Price Action
- Dogecoin is currently trading around $0.17, having increased over 9% in the past week.
- The asset is situated near the lower end of an Ascending Channel, which indicates a consolidation phase with higher highs and higher lows.
- A break above the channel's lower level or the 0.786 Fibonacci Retracement level at approximately $0.20 could indicate bullish momentum.
- Reaching this level may pave the way for Dogecoin to approach its all-time high of $0.74.
- Failure to recover could lead to a breakout below the channel, signaling potential further declines.
