Analyst Predicts Dogecoin Price Rally To $0.29 If This Level Holds

A renowned crypto market analyst has forecasted a highly bullish outlook for Dogecoin price against the backdrop of a crypto market recovery. On Monday, April 14, analyst Ali Martinez revealed that DOGE could hit $0.29 ahead, given its price sustains a break above $0.17. Notably, the dog-themed meme coin is currently resting at the $0.16 price level, rebounding from as low as $0.13 over the past week.

Analyst Forecasts $0.29 As Next Target For Dogecoin Price

Ali Martinez revealed via an X post that the Dogecoin price is gearing up for a big week. Particularly, a close above $0.17 paves the road for the next price levels at $0.21 or even $0.29, per the analyst.

As long as the meme coin holds key support at $0.13, the chances of such a bullish feat remain highly optimistic. As mentioned above, the price has already visited the $0.13 support over the past week, although it also recovered back to previous highs.

At the time of reporting, DOGE token’s price traded at $0.1659, up 0.5% over the day and roughly 20% over the week. Crypto market traders and investors remain highly optimistic, expecting the dog-themed token to cross $0.17 soon amid its price recovery.

Can DOGE Also Hit A New ATH?

Meanwhile, another renowned crypto market has predicted a highly bullish scenario for the meme token amid a broader recovery. Javon Marks noted in an X post that the token is “looking ready to put on yet another magical bullish performance to new all-time highs.”

Notably, the analyst stresses that the price could gain at least +200% to +330% above $0.73, an ATH reached by the token as of May 2021. This bullish prediction has added to market optimism about DOGE price action ahead.

Also, analyst Trader Tardigrade recently broadcasted a bullish forecast for the same token, cementing investor bullishness. According to Tardigrade, Dogecoin price has entered phase D in “Wyckoff Accumulation,” signaling that massive gains are imminent.

Wyckoff Accumulation is a trading mechanism by Richard Wyckoff that is used to understand how smart money (whales) accumulate assets before a major price move up. Particularly, Phase D in this phase suggests strong support from buyers, paving the road for the last phase, E. Phase E characterizes an end in accumulation trends followed by a strong, sustained uptrend.

Moreover, a DOGE price prediction by CoinGape further revealed that bulls remain dominant over the crypto, per the 3-month bias indicator. In conclusion, broader market sentiments about the meme coin’s price remain highly bullish in the wake of top analysts predicting a massive rally ahead.

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Coingape Staff

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.