Dogecoin Needs to Break Above $0.095 for Next Double-Digit Surge
Market analyst Ali Martinez has weighed in on Dogecoin's (DOGE) recent price action, noting that while a breakout might be brewing, the asset needs to overcome a key resistance level. According to Martinez, DOGE would have to close above $0.095 on its 4-hour chart to confirm a bullish breakout.
The meme coin has been struggling to take down the $0.10 resistance, with several attempts ending in rejection. The latest dip came during the market-wide crash that drove Bitcoin (BTC) prices down by over $3,500. DOGE dipped from $0.098 to $0.091 before rebounding to $0.092-$0.093.
Martinez predicted a 14% surge to $0.106 if DOGE reclaims the $0.095 resistance. He noted that as price approaches the apex of a descending triangle, the structure becomes increasingly compressed, and a breakout could be getting closer.