This article is also available in Spanish.
A crypto analyst, identified as “Trading Jesus” on X (formerly Twitter), has revealed the roadmap for Dogecoin price to reach $1. By highlighting Dogecoin’s resistance and support levels, the analyst highlighted the major obstacle to the meme coin. cross the $1 mark.
Dogecoin Price Roadmap Toward $1 Target
In his MessageTrading Jesus shared a Dogecoin Chart on the 1-hour time frame showing support and resistance levels as Dogecoin price targets the $1 mark. Currently trading at $0.36, the crypto analyst indicated that the next resistance level for Dogecoin is $0.44.
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This crucial level could trigger significant selling pressures for the coin itself as investors begin to liquidate their holdings. However, if Dogecoin manages to surpass the $0.44 level, the meme coin could enter a bullish phasewith its next price high at around $0.56.
Trading Jesus highlighted the $0.56 price increase as a profit taking level at which traders and investors could start selling their Dogecoin for potential gains. The analyst also identified a higher resistance level at $0.73336 if Dogecoin can maintain its bullish momentum above this level.
At the resistance level of $0.73336, Trading Jesus predicted that Dogecoin could see its price rise to the coveted $1 mark. His painting revealed Dogecoin’s Next Bullish Target be $0.996 if its price continues to increase.
On the other hand, Trading Jesus also showed the support levels for Dogecoin if it fails to surpass key resistance levels. The first support at $0.34 represents a crucial level at which buyers could step in if Dogecoin price declines. This support level ultimately acts as a barrier to prevent further price declines.
If Dogecoin declines Below the $0.34 support level, the cryptocurrency could see further downward pressure, leading to a fall towards the $0.25 mark. If further withdrawals occurTrading Jesus revealed that Dogecoin price could reach new lows around the $0.18 level.
Analyst remains optimistic despite DOGE price dropping 8%
While analysts predict the Dogecoin price hits $1others have predicted even higher all-time highs for the popular coin. A crypto analyst known as “Cantonese chat” on revealed a weekly DOGE price chart projecting a potential jump to $4.
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In the chart, the analyst indicated that Dogecoin is about to reach the $0.42 price level at the 0.786 Fibonacci level. Breaking above this level could trigger a push towards the 1.618 Fibonacci level, which price increase above $4.0.
The Cantonese Chat revealed that investors and traders likely have three to four weeks to accumulate at Dogecoin’s current price of $0.36 before it hits $4.
Featured image created with Dall.E, chart from Tradingview.com
