Dogecoin Price Looking To Close Weekly Candle Above The Yellow Line, Why $10 Is Possible If This Happens

This has been revealed by a cryptocurrency analyst Dogecoin price The pair may be positioning itself for a major uptrend as it approaches a critical weekly close. The question arises whether Dogecoin can close the weekly candle above the yellow line. Since this line acts as a crucial resistance level for Dogecoin price, the analyst did this Expect a breakout to $10 If Dogecoin can successfully close above it.

Dogecoin is looking for a $10 breakout above the key level

Cryptocurrency analyst, Dima James-Pots, shared new Dogecoin price analysis via X (formerly Twitter), Prediction That the first meme coin could rise to $10, an all-time historical high. Based on the technical patterns observed in previous sessions, Boots revealed that the Dogecoin weekly chart is often used for decryption. Dogecoin performance.

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He pointed to the green and red lines on Dogecoin’s weekly chart, highlighting that historically, when these lines cross in a certain way, they tend to trigger positive or “green” weekly performance for Dogecoin. Boots revealed that Dogecoin price movement It displays the same pattern in this current session, indicating potential upward price momentum.

It is interesting that this Form a repeating pattern It also includes the “yellow line,” which appears to act as a crucial resistance level for Dogecoin. According to Boots, when Dogecoin manages to rise above this line on the weekly chart, it often leads to… Parabolic upward movement.

With this in mind, the analyst suggested that if Dogecoin closes the week above $0.18, it could confirm the breakout and the beginning of the “parabolic move” that occurs historically.

To further support his bullishness Dogecoin price forecastBoots shared Dogecoin’s previous performance when it closed above the yellow line. After surpassing this level, the analyst revealed that Dogecoin rose by more than 8,373.35% during the first market cycle. Likewise, the meme coin rose by 18,376.25% in the second cycle.

Given these past performance and Technical indicatorsPotts feels confident that the same trend can be repeated Dogecoin is in this third cycleWith the possibility of a more significant move towards the $10 target.

Dogecoin price drops 8%, can it reach $10?

Amid bullish expectations for Dogecoin prices rise to $10, the cryptocurrency recently fell more than 7.2%, seeing volatility with the rapid shift in market conditions and sentiment. A rise to $10 will require Dogecoin to continue at a level Significant upward momentumDriven by upbeat market sentiment and some bullish factors.

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a little Upside factors It has pushed the price of Dogecoin towards higher levels. Except for strong community support and Increase wallet addressesthe price of Dogecoin has been steadily rising due to the influence of SpaceX CEO Elon Musk and the proposal of the Department of Government Efficiency (DOGE).

with Doug Musk He is set to receive the support of the forty-seventh US President, Donald Trump, and analysts believe that The impact could send Dogecoin soaring Over $10, reaching between $4 and $23 soon.

Featured image created with Dall.E, chart from Tradingview.com