Levels To Watch For As Dogecoin Price Confirms Final Retest

Crypto analyst Basic Trading has revealed that the Dogecoin price is confirming a final retest before a potential move to the upside.

Dogecoin price is gearing up for a final retest before making a potential move to the upside. Several price levels are being closely watched as DOGE eyes a bullish breakout.

Levels To Watch For As Dogecoin Price Confirms Final Retest

Renowned crypto analyst Basic Trading has highlighted key price levels to watch for as the Dogecoin price confirms a final retest. In a TradingView post, the analyst noted that the meme coin is preparing for a ‘break and retest’ as it eyes a bullish breakout.

Highlighting the monthly chart, Basic Trading observed that Dogecoin is trending higher despite recent corrections. Alluding to the meme coin’s massive rally from the previous all-time high, the analyst said that DOGE is now up 50% from this level.

According to Basic Trading, the Dogecoin price is now expected to complete the anticipated correction of about 50%. This comes after DOGE fiyatı made a textbook retest of the previous all-time high three months ago. The analyst now anticipates the meme coin confirming the bullish break and retest, leading to a parabolic rally and new highs.

He anticipates significant buy pressure, pushing Dogecoin price to its current local high of around $0.5. This potential breakout will pave the way for a rally to a new ATH.ратор also noted that the meme coin enjoyed an 8,000% gain in the 2017 bull cycle and a 50,000% gain in the 2021 cycle. As such, he believes the $5 price level is a conservative target for DOGE in this bull run.

Recently, another crypto analyst, Dima Potts, also predicted that Dogecoin could reach $10 in this cycle as it mirrors a similar pattern from the 2017 bull cycle.

$3 Remains A Strong Possibility For DOGE

In an X post, crypto analyst Ali Martinez discussed how the Dogecoin price could rally to as high as $3 in this market cycle. He highlighted the most critical support zone for DOGE, which lies between $0.19 and $0.16. According to Martinez, if this level holds, the $3 target remains a strong possibility for the meme coin.

Another crypto analyst, Trader Tardigrade, also provided a bullish outlook for Dogecoin price. In an X post, he stated that DOGE’s macro chart is showing a similar price pattern. The analyst remarked that if it mirrors the 2017 moves, DOGE could soon experience another massive surge. His accompanying chart showed that the meme coin could reach $1.7 when this massive surge happens.

At the time of writing, Dogecoin price is trading at around $0.25, down in the last 24 hours, according to data from CoinMarketCap.