Crypto analyst Dima Potts has provided insights into the current Dogecoin price action. In his analysis, Potts highlighted the $0.28 price level as being the next major milestone for DOGE as it eyes a breakout on its way to a new all-time high (ATH).
Why $0.28 Is The Next Major Milestone For Dogecoin’s Road To ATH
In an X post, Dima Potts revealed that $0.28 would be the next major milestone for Dogecoin on its road to a new ATH. The analyst stated that he expects DOGE to move towards the $0.28 range, similar to the previous cycle. As such, he remarked that this range marks the next major milestone for the foremost meme coin.
Related Reading
The analyst further noted that beyond this point, there would be an increase in volatility with the Dogecoin price consolidating before heading towards new yearly highs and eventually its ATH. In the meantime, Potts noted that the $0.25 price level continues to serve as a short-term support level that DOGE’s price should follow, just like in the 2017 cycle when this pattern emerged.
The analyst had earlier revealed that a similar pattern to the one in the 2017 cycle was emerging for Dogecoin in this cycle. He alluded to this pattern as why DOGE can rally to as high as $10 in this cycle. Potts remarked that he believes the meme coin will head towards its all-time highs and then much higher in the coming weeks, mirroring its 2017 performance.
Meanwhile, crypto analyst Kevin Capital recently highlighted the Dogecoin price’s struggle to reclaim this $0.28. This came as he noted that DOGE has failed to get above the macro golden pocket and weekly bull market support band, which is around the $0.28 range. In line with this, he stated that it is time to watch the Bitcoin price even closer to see if the flagship crypto can help the foremost meme coin witness a bullish reversal soon enough.
DOGE Has Entered A Boring Phase
In an X post, crypto analyst Trader Tardigrade stated that the Dogecoin price has entered the “boring phase.” In line with this, he told market participants to expect tight consolidation at the current level over the next few weeks before the massive DOGE rally. His accompanying chart showed that DOGE could rally above $1 when this rally happens.
Related Reading
Crypto analyst Kevin Capital stated that the Dogecoin price is still in risky waters. He remarked that the meme coin needs to get above the macro golden pocket and weekly bull market support band at $0.30 on weekly closes. The analyst added that it is only when that happens that market participants can feel good again about DOGE attacking the highs and beyond.
At the time of writing, the Dogecoin price is trading at around $0.25, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
