Dogecoin, Voice of Crypto
Dogecoin is the most prominent memecoin but has been overshadowed by newer ones.
Analysts like Rekt Capital, BitLuxe and others believe Dogecoin is due for a rally in the upcoming bull cycle.
Support for Dogecoin is currently around $0.146-$0.151, while resistance is at $0.168-$0.173.
Dogecoin could reach $0.22 soon and possibly hit a high between $1-$2 this cycle.
Dogecoin is in a bull flag formation and could rally to $0.174 or even $0.22 in the short to medium terms.
Dogecoin has been overshadowed over the last few years, with the introduction of several new additions to the memecoin market like BONK, PEPE, WIF and others.
However, the truth remains that Dogecoin is by far the most prominent memecoin on the market, and is long overdue for a massive rally.
Incoming comeback on Dogecoin’s dominance
In light of the approaching bull cycle, investors are considering jumping back in on Dogecoin.
To this end, we would like to know: How far up can Dogecoin go in this cycle? Where are the most important support and resistance to keep an eye out for? How soon will we see this Dogecoin rally?
Here are a few tweets from analysts all over X (Twitter), with answers to these questions.
Dogecoin, at the time of writing, trades at around $0.1572, according to data from CoinMarketCap.
Dogecoin’s price
According to a new opinion from analyst, BitLuxe, Dogecoin currently trades at around a crucial support of around $0.146-$0.151.
The analyst opined that if any long trades must occur around here, stop losses must be “very tight”, and that “bearish signs” are likely to show up beneath this zone.
Dogecoin, according to BitLuxe
According to BitLuxe, if we see Dogecoin fall beneath this $0.146-$0.151 zone, the memecoin is likely to retest $0.122-$0.13.
Conversely, we might see Dogecoin rally upwards and hit resistance at around $0.168-$0.173.
According to a recent tweet from analyst, SlumDOGE Millionaire on 11 April, Dogecoin's metric points to a retake the $0.22 zone soon.
Moreover, Dogecoin getting to this price level “before” the halving was a very bullish sign, and we might be seeing anywhere between $1 and $2 this cycle.
Analyst, Rekt Capital in a separate tweet, mentioned that Dogecoin has managed to recover a big part of the downside below the $0.20 level.
Rekt Capital on Dogecoin
The analyst went further to mention that a Dogecoin recovery is already in the works, considering how the memecoin is only +4% away from reclaiming $0.20 as support.
In total, Rekt Capital believes Dogecoin still has “plenty of time” to reclaim $0.20 and is doing well so far.
According to @cryptodailyTS, Dogecoin currently trades within a bull flag formation, and a breakout might be in the works if we continue to hold out inside this current pattern, and if Dogecoin holds a minimum of $0.15.
Dogecoin’s bull flag formation
According to the charts, @cryptodailyTS's Dogecoin outlook holds, as shown by the ascending channel below.
Dogecoin’s ascending channel
From the above, we can conclude that Dogecoin has enough incentive to rally straight up to the 25-day EMA around $0.174 as BitLuxe suggested.
However, beyond that, the door remains open for Dogecoin rallying to the upper trendline of this channel, around $0.22, which validates Rekt Capital's outlook.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.