A crypto analyst has shared a Dogecoin price chart over a daily time frame, highlighting key price levels to watch out for as the meme coin attempts to recover towards the coveted $1 milestone. Although the Dogecoin price has seen significant volatility and declines recently, the crypto analyst remains confident in the memecoin’s bullish outlook.

Dogecoin Price Path To $1: Key Targets 

According to TradingView crypto analyst, ‘TheHunters_99,’ Dogecoin was previously trading within a defined price channel, consolidating after experiencing a significant price increase earlier in November. This prolonged consolidation triggered a significant price crash for Dogecoin, pushing it back to previous lows.

Nevertheless, recent price action has seen Dogecoin successfully break out of its narrow price channel, indicating renewed bullish momentum. The TradingView analyst has presented a price chart revealing Fibonacci extension levels as key markers to monitor closely for Dogecoin’s next potential moves towards $1. 

Fibonacci levels are indicators widely used to identify possible resistance and support zones for cryptocurrencies. The analyst highlighted the 1 Fibonacci level at $0.5 as his first price target for Dogecoin. At the 1.618 Fibonacci level, the next target is the $0.70 price level, which the analyst believes Dogecoin could potentially rise to, representing almost double its current market value. 

The third significant target lies between $1 and $1.1 at the 2.618 Fibonacci level. This key price point could mark Go to Source to See Full Article
Author: Scott Matherson