Dogecoin Targets $1.80 Amid Breakout Structure, Analyst Reports
The Dogecoin (DOGE) monthly chart shows patterns similar to those preceding past breakouts, according to market analyst Kevin (@Kev_Capital_TA). As of April 2025, DOGE closed at $0.1795, marking a 4.2% increase.
Key points from Kevin's analysis include:
- DOGE defended critical support levels: the 0.382 Fibonacci retracement at $0.1383 and a 34-month falling wedge that began in May 2021.
- The SuperTrend indicator remains positive but has not yet gained vertical momentum.
- The monthly RSI is at 51.3, comparable to levels seen when DOGE traded at $0.11.
- Three previous consolidation patterns resolved with upward expansions; the current wedge broke upward in November 2024, reaching $0.48.
- Potential distribution zones identified between $1.25–$1.35 and $2.40–$2.60, with a Fibonacci target at $3.94.
- Momentum indicators suggest bullish potential, with the long-term MACD showing positive signs for the first time since 2021.
Kevin emphasized that macroeconomic factors align favorably, suggesting significant movement in Bitcoin (BTC) dominance within the next few months and potential inflation decreases. At the time of reporting, DOGE was priced at $0.179.
