- DOGE is trading in a narrow range, with a substantial support wall indicating potential for an upward breakout.
- An analyst highlights $0.076 and $0.084 as key price levels for DOGE.
- Predictions indicate a 0.52% price rise for DOGE, reaching $0.074329 by November 13, 2023.
Dogecoin (DOGE) is currently making waves as crypto analyst and trader Ali Martinez shares insights on its future. Martinez believes DOGE is poised for an upward breakthrough despite navigating a tight trading range.
According to Martinez, DOGE is currently trading within a narrow range, sandwiched between two significant supply walls. The first of these walls represents a substantial support level, with approximately 200,000 wallets holding a staggering 28.6 billion DOGE. On the flip side, a resistance wall, boasting 124,000 wallets holding 26.95 billion Dogecoin, creates a formidable barrier.
#Dogecoin is navigating a tight zone, sandwiched by two crucial supply walls.
— Ali (@ali_charts) November 8, 2023Support Wall: Spanning $0.072-$0.073, with 200K addresses holding 28.6B $DOGE.
Resistance Wall: Ranging from $0.074-$0.076, where 124K addresses hold 26.95B #DOGE.
Note that support outstrips… pic.twitter.com/O5FRIJ1SIl
The noteworthy aspect of this scenario is that the support wall outweighs the resistance wall in terms of length. Martinez sees this as an encouraging sign, suggesting the potential for an upward breakout in DOGE’s price.
Martinez points out two key price levels to keep an eye on as DOGE continues to navigate its tight trading zone. The first is the $0.076 mark, which he considers a significant hurdle for the meme coin. Should DOGE successfully breach this level, it could pave the way for further gains. The next milestone to watch closely is the $0.084 mark, identified by Martinez as a crucial price point.
CoinCodex‘s current Dogecoin price prediction offers an optimistic outlook. It suggests that DOGE is likely to experience a 0.52% price increase, potentially reaching $0.074329 by November 13, 2023. These predictions align with the technical indicators, which currently indicate a bullish sentiment in the DOGE market.
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The post Dogecoin: Expert Predicts Upward Surge Amidst Tight Trading Zone appeared first on Crypto News Land.
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