 ▲ Dogecoin (DOGE) / ChatGPT-generated image © |
Dogecoin (DOGE), the original meme coin that has been in a prolonged downtrend, is now standing at a critical crossroads near the $0.10 level, with analysts suggesting that a strong breakout above this resistance could trigger an explosive rally of up to 150%.
According to cryptocurrency media outlet Bitcoinist on February 18 (local time), virtual asset market analyst Eric Crypto stated on social media platform X that Dogecoin has withstood months of downward pressure and is currently consolidating tightly just below a key resistance level. He explained that the $0.10 zone, where a descending trendline intersects with horizontal support, represents a decisive battleground where buyers and sellers are competing for control.
Eric Crypto’s analysis suggests that if Dogecoin successfully defends the $0.10 support level and breaks above the descending trendline, market momentum could shift rapidly. Such a move would signal the end of a prolonged period of price compression and could ignite a powerful upward wave pushing the price swiftly to $0.25—an increase of approximately 150% from current levels.
He added that substantial liquidity is waiting below the current price range, creating ideal conditions for a larger upside move. From his bullish perspective, Dogecoin’s current chart pattern does not indicate mere weakness but rather a temporary pause before expansion following a period of consolidation.
Meanwhile, another cryptocurrency expert, Trader Tardigrade, pointed to a similar descending trendline but offered a more cautious outlook. He acknowledged that Dogecoin’s overall market structure appears bullish, as it has recently tested chart support and begun trading above the trendline, yet he assessed that upward momentum itself remains weak.
Trader Tardigrade emphasized that stronger buying pressure is necessary to confirm a genuine bullish breakout. If buying interest clearly strengthens and a decisive breakout occurs at the $0.10 level, the price could surge about 50% to $0.15. He advised investors to maintain cautious optimism, closely monitoring increases in trading volume and the emergence of stronger candlesticks.
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