Experienced Analyst Dogecoin (DOGE) Claimed a Rally in Price: “If This Level Is Exceeded, A Rally May Come”

Cryptocurrency analyst Ali Martinez has made a new price target for the world's largest memecoin, Dogecoin (DOGE). Martinez believes that if DOGE breaks the resistance level at $0.169, the price could skyrocket to $0.209, a gain of 27%.

At the time of writing, DOGE is trading at $0.156 and has gained 16% in the last week. However, a decline in the last 24 hours caused the price to drop by 3.46%.

Regarding the cryptocurrency market in general, Martinez reports that traders on Binance, the world's largest cryptocurrency exchange, are gradually closing their short positions, with 52.44% of traders now in long positions.

Martinez also discussed Ethereum (ETH), noting that the TD Sequential indicator on the 4-hour candles recently gave a bullish signal. However, for a bounce to occur, ETH must remain above the $2,480 support level.

Disclaimer: This information is provided for informational purposes only and should not be construed as investment advice.