Crypto analyst hints at why Dogecoin (DOGE) is about to hit $1 and make history
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For every major price rally, there is usually a period of range trading in which the market stabilizes before the next leg up. If this scenario is confirmed, Ali believes that Dogecoin might see a parabolic breakout in mid-April and surpass $1, representing an astounding 525% rise from Dogecoin's current price of roughly $0.17.Dogecoin's price has steadily risen from a low of $0.09 since Feb. 26. The surge lifted the DOGE price above the $0.20 resistance on March 5, but bulls were unable to sustain the breakout owing to profit-taking.The bulls are once again trying to keep the price above $0.
If buyers maintain the price above $0.17, Dogecoin could gradually retest its local peak of $0.20. A break and close above this level may indicate the start of the second leg of the uptrend to $0.30. In contrast, if the price falls from current levels, Dogecoin may fall to the 0.12 support level, where buyers are likely to enter.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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