The largest meme coin, Dog Coin, has remained silent for a long time while continuing its downward trend. Famous cryptocurrency analyst and strategist Ali Martinez emphasized that DOGE needs to break through two resistance levels in order to officially enter the bull market, making important predictions
The largest meme coin, Dog Coin, has remained silent for a long time while continuing its downward trend. Famous cryptocurrency analyst and strategist Ali Martinez emphasized that DOGE needs to break through two resistance levels in order to officially enter the bull market, making important predictions. The analyst also commented on BTC.
Decision time for dog coins
Cryptocurrency analyst and strategist Ali Martinez stated that DOGE is trading within a large triangle. Analysts say that if DOGE successfully breaks through this technological form, it may launch a significant rebound and move towards historical highs:
Dog coins are approaching the end of this triangular shape, which has led to a downward trend for many years. The weekly candle closing price above $0.0835 may lead to a new bull market in DOGE and may trigger an upward trend towards $1. However, it is important to focus on the support level of $0.0482, as any weakness at this level may indicate a new decline.
From Martinez's chart, it can be seen that DOGE has two important resistance levels. The first is the long-term downward trend line, and the other is the horizontal trend line of $0.083. According to the latest data, the price of dog coins traded within the aforementioned downward triangle, changing hands at $0.06037, and has increased by 1.71% in the past 24 hours.
The critical level of Bitcoin: $28233
Martinez, when analyzing the cryptocurrency with the largest market value after Dogcoin, stated that Bitcoin closely follows the implemented price supply index, which tracks the average purchase price of all coins that have not changed within a week to six months. Martinez stated that if this on chain indicator exceeds the current price, Bitcoin may start a new bull market:
The realized price indicators of Bitcoin indicate that only when the BTC remains above $28233 will a new bull market be triggered.
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