2025-02-11 09:30:21 by NewsBTC

Crypto analyst Ali (@ali_charts) has published a weekly chart on TradingView that places Dogecoin (DOGE) squarely above a defining ascending channel drawn from early 2014. Although many altcoins have gone through boom‐and‐bust cycles in their histories, the attached chart reveals that DOGE has largely respected this upward‐sloping range for more than a decade. “DOGE is holding strong above the upper boundary of this channel, keeping the path open for a potential rally toward $4!” Martinez claims.  Dogecoin Poised For $4? The channel itself is composed of two primary bold lines—defining the lower and upper ranges of price action—as well as a series of dashed mid‐channel lines. In 2014, Dogecoin lingered below $0.00017. Year later, in March 2020, Dogecoin fell to $0.00134, a level that corresponds to the 0% Fibonacci reference point on the chart. Dogecoin price analysis, 1-week chart | Source: X @ali_chartsFrom there, price action began forming a gentle uptrend that has become clearer over time, punctuated by spikes in 2017–2018, a run in mid‐2019, and most notably the massive rally in 2021 when DOGE surged to a historical high of approximately $0.73905. Following a sharp retracement, price briefly consolidated near $0.06654, a zone marked by the 0.618 Fibonacci retracement. DOGE then built enough strength to climb above the 0.786 Fibonacci level around $0.19183, which coincided with the midpoint of the lower ascending channel. At present, Dogecoin sits near $0.25, placing it above the channel’s lower boundary but also below the dashed lower trendline that has consistently served as a reference for major breakouts. In April 2024 as well as in December 2024, DOGE was rejected at this trendline near $0.23 and $0.48 respectively. With the current correction, DOGE may have successfully completed a retest of the previous local high near $0.23 and is now ready for the next rise. Notably, periods when DOGE has gravitated around these dashed lines have often preceded large directional moves, both on the way up and on the way down. A break above the lower dashed line which currently sits near $0.50 could potentially trigger Dogecoin’s next major upside move. Overall, the overarching takeaway from Ali’s perspective is that Dogecoin remains structurally intact within this multi‐year trend, reinforcing the idea that future price expansions are possible. Fibonacci analysis featured on the chart shows multiple levels spaced throughout Dogecoin’s history. The 0.618 retracement at around $0.06654 stands out for having captured the lows of the 2022 bear market, while the 0.786 Fibonacci mark near $0.19183 served as a consolidation pivot before the current move higher. Above the 1.0 extension (the 2021 all‐time high around $0.73905) lie key Fibonacci extension targets, namely 1.272 near $4.10, 1.414 around $10.04, and 1.618 near $36.32. These levels provide a technical roadmap for the most optimistic scenarios, though each one becomes progressively more speculative as price would need to shatter multiple psychological and technical barriers to reach them. By reclaiming and holding above the upper boundary of the channel, Dogecoin appears to be staging another potential expansion phase. Chart interpretations suggest that as long as DOGE remains above this threshold, it retains a bullish structure that has reliably channeled rising prices over the past decade. If, however, price were to fall back below $0.0.19, it could slip towards the lower boundary of the channel or possibly even break below it, thus destroying the bullish case for DOGE. At press time, DOGE traded at $0.26791. Dogecoin price, 1-week chart | Source: DOGEUSDT on Tradingview.comFeatured image created with DALL.E, chart from TradingView.com Jake Simmons Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.