Dogecoin Could Reach $1 After Breaking Multi-Year Trend

Dogecoin fell 14% from $0.39 yesterday due to selling pressure. This fall has investors worried, but Dogecoin remains at a vital demand level. Maintaining this support may set the meme currency up for a new climb to new highs.

A top expert recently provided a technical analysis on X, suggesting Dogecoin might break its multi-year trendline. CROW believes a breakthrough would set Dogecoin up for a robust rally. He argues that $1 is only the start of a series of rising moves that might change the market's opinion of DOGE.

Dogecoin must decide whether to maintain its demand zone or fall more in the next days.

Dogecoin Prepares For Breakout

Dogecoin is staying firm around $0.34, a significant supply level that has become a strong demand zone. This price behavior indicates a major market change for DOGE, boosting investor excitement. As the meme currency leader sets new highs, higher supply zones may be the next objective, enabling positive momentum.

With market sentiment cautiously bullish and key technical indicators aligned, Dogecoin may start a new chapter. Investors are following its movement around $0.34 for a breakthrough that might trigger an incredible rise.

Strong Price Action

After breaking down from $0.39, a key supply level, Dogecoin is trading at $0.34. As DOGE maintains its critical demand zone, price movement shows strength despite the recent dip. Dogecoin may return if market sentiment improves because to its resiliency.

DOGE may challenge last year's highs if the market recovers. A big bullish breakthrough would occur if $0.43 is reclaimed and held. This would certainly generate strong purchasing pressure, driving DOGE into a new phase of upward momentum and price discovery.

However, downside danger persists. If Dogecoin falls below $0.33, selling pressure might increase, causing a deeper downturn. As the market navigates uncertainty, investors are watching these critical levels.

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