Dogocine To reconstruct yet In the last few weeks, the price of the recession due to action $ 0.3 price level, but technical analysis shows that it is Luck for a run above double digits. In particular, a technical approach shared on the tradingview platform indicates that the Dogcoin price chart is currently playing a macro breakout setup that can send it to a $ 11.16 price target.
Macro breakout setup says $ 11 from dogcoin
A New analysis on tradingview Underlined a macro breakout setup that could push Dogcoin towards a $ 11.16 value target. The analysis highlighted a well -defined technical structure supporting the move, with the major resistance and brakeout levels form a roadmap for a long -term rally. In particular, by completing some important structures, this cycle also lends weight for the view of Dogi’s long -term rally.
An important aspect of this setup is of Dogecoin Adam and eave structure Q4 after its breakout in 2024. This breakout saw Dogcoin above the multi-year resistance levels before reaching a significant liquidity region around $ 0.475. However, after exploiting this level, Dogge suffered rejection. According to an analyst at the tradingview, this rejection is not a sign of weakness, but a wide rapidly an essential part of macrostructure, as it determines the conditions for a strong re -accumulation phase.
Dogocine Moving back since It reached this $ 0.475 multi-year peak within a corrective ABC structure. This retrament now puts Dogo Trading right above A strong support at $ 0.25. Now acting as a re -accumulation basis, this support area is expected to buy pressure and work as a launchpad for the next important price movement, provided that it remains up.
This structural setup in re -accumulation strengthens the rapid outlook and a strong step upwards. According to the analyst, the full measured trick projection from this macro structure keeps the macro target at $ 11.16.
DogeCoin needs to break the neckline resistance
The analyst mentioned an important resistance level that could invalve the breakout of the macro target at $ 11. In particular, this significant resistance is located around the neckline area of macrostructure. If the dogcoin successfully breaks and catchs up, it will trigger a step above its current all-time high.
According to the analysis, this major resistance is set near $ 0.70787, located below $ 0.7316 under the all-time high of dogcoin. Given the current price of DOGECoin $ 0.26, an bounce for this resistance level alone will represent an impressive 172% increase, already offering adequate returns to investors at current levels. However, reaching this resistance Not the final goal For price. The final goal is breaking above double digits.
The hope is that a strong rally for neckline resistance can generate necessary speeds to push Dogge into a price search, provided that the broad market remains faster.
Special displayed image from Adobe Stock, Chart from TradingView.com
