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The cryptocurrency analyst, known as “Trading Jesus” on X (formerly Twitter), revealed the roadmap for Dogecoin price to reach $1. By highlighting the resistance and support levels for Dogecoin, the analyst emphasized the main hurdle for the meme coin Hit the $1 mark.
Roadmap for Dogecoin price to reach $1 target
In his country Share XTrading Jesus Share A Dogecoin chart On the 1-hour time frame it shows support and resistance levels as Dogecoin price aims for the $1 mark. It is currently trading at $0.36, and a cryptocurrency analyst noted that Next resistance level For Dogecoin it is $0.44.
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This critical level can lead Great selling pressure For the meme coin as investors begin to liquidate their holdings. However, if Dogecoin can successfully break the $0.44 level, so can the meme. Entering an upward phasewith its next price rise at around $0.56.
Trading Jesus highlighted the $0.56 price increase as… Take profit level Where traders and investors can start selling their Dogecoin for potential gains. The analyst also identified a higher resistance level at $0.73336 if Dogecoin can maintain its bullish momentum above this level.
At the $0.73336 resistance level, Trading Jesus expects Dogecoin to see its price rise to the highly coveted $1 level. His scheme is revealed Dogecoin’s next upside target To be $0.996 if its price continues to rise.
On the other hand, Trading Jesus also showed up Support levels for Dogecoin If it fails to break through the major resistance levels. The first support at $0.34 represents a crucial level where buyers can step in if the price of Dogecoin declines. This support level ultimately acts as a buffer to prevent further price decline.
if Dogecoin refuses Below the $0.34 support level, the cryptocurrency may face further downward pressure, leading to a decline towards the $0.25 mark. if More pullbacks occurTrading Jesus revealed that the price of Dogecoin could reach new lows around the $0.18 level.
Analyst remains optimistic despite 8% drop in DOGE price
While analysts expect The price of Dogecoin reaches $1Others predicted all-time highs for the popular meme coin. The cryptocurrency analyst known as the “Cantonese Cat” on X has unveil DOGE Weekly Price Chart Predicts Possible Jump to $4.
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In the chart, the analyst indicated that Dogecoin is on track to reach the $0.42 price level at the 0.786 Fibonacci level. Exceeding this level may lead to a rise towards the 1.618 Fibonacci level, which represents a level Price increase above $4.0.
The Cantonese Cat revealed that investors and traders will likely have between three and four weeks to accumulate at Dogecoin’s current price of $0.36 before it reaches $4.
Featured image created with Dall.E, chart from Tradingview.com
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