A crypto analyst, identified as ‘Trading Jesus’ on X (formerly Twitter), unveiled the roadmap for the Dogecoin price to reach $1. By highlighting Dogecoin’s resistance and support levels, the analyst has underscored the major hindrance to the meme coin hitting the $1 milestone.
Dogecoin price has been closely watched by crypto enthusiasts, and as the meme coin aims for the $1 mark, a renowned crypto analyst has unveiled a roadmap showcasing Dogecoin’s resistance and support levels.
Trading Jesus, a crypto analyst on X (formerly Twitter), has shared a Dogecoin chart on the 1-hour timeframe highlighting these levels. Currently trading at $0.36, Dogecoin faces its next resistance at $0.44, a level that could entice investors to sell their holdings and potentially hinder Dogecoin from reaching $1.
However, if Dogecoin manages to break above the $0.44 level, it could enter a bullish phase, with its next price high at around $0.56. According to the analyst, this price increase could prompt traders and investors to begin selling their Dogecoin for profit.
Moreover, Trading Jesus has pinpointed a higher resistance level at $0.73336, indicating that if Dogecoin can maintain its bullish momentum above that level, it could see its price surging towards the $1 milestone.
On the other hand, if Dogecoin fails to break past key resistance levels, the analyst has shown the support levels that could prevent further price drops. The first support at $0.34 is crucial as it might attract buyers if Dogecoin’s price drops.
If Dogecoin declines below the $0.34 support level, the cryptocurrency could experience more downward pressure, leading to a drop towards the $0.25 mark. If more pullbacks occur, Trading Jesus predicts that the Dogecoin price could bottom to new lows around the $0.18 level.
While some analysts foresee the Dogecoin price hitting $1, others have predicted even higher all-time highs for the popular meme coin. A crypto analyst known as the ‘Cantonese Cat’ on X has unveiled a weekly DOGE price chart projecting a potential leap to $4.
In the chart, the analyst indicates that Dogecoin is on its way to hitting the $0.42 price level at the 0.786 Fibonacci level. Breaking past this level could trigger a surge towards the 1.618 Fib, representing a price increase above $4.0.
The Cantonese cat reveals that investors and traders likely have three to four weeks to accumulate at Dogecoin’s current price of $0.36 before it shoots up to $4.
