Top analyst and trader Ali Charts has outlined Dogecoin’s potential path to $0.82 amid a strong upward price movement.
The meme token trades at $0.460458, marking a 17.35% gain in 24 hours. Ali Charts shared a technical analysis on X, detailing DOGE’s breakout from a symmetrical triangle pattern.
DOGE Market Structure Shows Strong Buying Momentum
The latest technical analysis from Ali Charts reveals a clean breakout from a symmetrical triangle formation on the 4-hour timeframe.
DOGE maintains steady support at $0.35, with a secondary foundation at $0.32. The price action demonstrates consistent higher lows, suggesting sustained buying interest in the market.
#Dogecoin $DOGE is in the middle of a bullish breakout to $0.82! https://t.co/KjLJQ7ZkNm pic.twitter.com/Rib4XImoTT
— Ali (@ali_charts) November 23, 2024
The breakthrough occurred with increased trading volume, validating the upward movement. Market data shows the triangle pattern started forming after DOGE climbed from $0.20, establishing a framework for further price expansion.
Technical Indicators Point to Higher Targets
DOGE faces its next major hurdle at the previous all-time high of $0.74418. The measured move from the triangle pattern suggests an intermediate target of $0.50, which the price has now exceeded. The steep upward trajectory aligns with Ali Charts’ projection of $0.82.
A clear support structure has formed during this rally. The price consolidation near $0.35 created a strong foundation for buyers. This level coincides with previous resistance zones, now serving as support for the ongoing movement.
Read also: Why Is Stellar (XLM) Price Up?
Volume Analysis and Price Momentum
Trading volume data reinforces the strength of the current uptrend. The breakout from the symmetrical triangle saw above-average volume, indicating genuine market participation. The clean chart structure suggests minimal selling pressure at current levels.
The market maintains steady buying momentum without sharp corrections. Each support level has held firmly during minor pullbacks, allowing DOGE to establish new price ranges. The volume profile matches the price action, showing consistent market engagement throughout the rally.
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