Crypto analyst Crypto Jack has raised the possibility of the Dogecoin price rallying to new all-time highs (ATHs). He also revealed the next major resistance that the foremost meme coin must break above as it targets a rally to these new highs.
Next Major Resistance As Dogecoin Price Eyes Rally To New ATHs
In an X post, Crypto Jack revealed $0.5696 as the next major resistance as the Dogecoin price eyes a rally to new highs. He noted that DOGE is trading in an ascending channel with key Fibonacci levels acting as support and resistance. The analyst stated that the support is at $0.1 while the major resistance is at $0.5696.
Crypto Jack affirmed that a breakout from the major resistance could lead to a strong rally and suggested that the Dogecoin price could hit new highs in the process. His accompanying chart showed that DOGE could rally to as high as $2.7, as there is no major resistance on the way up once it breaks above $0.5696.
Crypto analyst CryptoElites also recently echoed a similar sentiment, predicting that the Dogecoin price could rally to $2.7. This came as he affirmed that DOGE would at least hit $2 by the end of April or May. Analyst Aliimn also predicted that the DOGE price could rally above $2 as Dogecoin breaks out from a multi-year descending triangle.
Meanwhile, crypto analyst Master Kenobi gave a more conservative prediction of the Dogecoin price hitting $1.1 by June, which would still mark a new ATH for the foremost meme coin. He alluded to a bullish pattern from DOGE’s 2017 bull run as the reason it could hit this target on the second phase of its bull run in this cycle.
Decision Time For DOGE
In his latest analysis, crypto analyst Ali Martinez again stated it is make-or-break time for the Dogecoin price. His accompanying chart showed that the foremost meme coin is currently trading at the lower boundary of an ascending channel.
A drop below the $0.17 support could lead to a massive crash for the foremost meme coin. On the other hand, if it manages to hold this level, it could rebound to the mid-range of the channel at $3 or the upper boundary above $16.
Crypto analyst Trader Tardigrade is betting on the Dogecoin price rebounding from its current level. In an X post, he asserted that DOGE’s season is coming. He highlighted the DOGE/BTC chart, which he claimed showed the same pattern of a final dip before a bullish reversal.
At the time of writing, the Dogecoin price is trading at around $0.169, up over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
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