Dogecoin Targets $0.19 After Recent 7% Price Increase
Dogecoin has rebounded from the lower support line of a Parallel Channel, indicating potential price movement. Analyst Ali Martinez noted this technical analysis pattern highlights consolidation between two trendlines.
Key Points
- The price recently retested the lower level of the Parallel Channel, acting as support.
- Currently targeting $0.19, which lies at the midpoint of the channel.
- If Dogecoin surpasses $0.19, the next target could be $0.26, the upper resistance level from previous months.
- A rise to $0.26 would represent an increase of over 50% from the current price.
As of now, Dogecoin is priced at approximately $0.172, reflecting a 7% increase over the past week.
