Dogecoin Ends Consolidation and Ignites Massive Rally... "If 'This' Level Holds, It Goes to $1"

▲ Dogecoin (DOGE)

Dogecoin (DOGE) has completed its long-term price consolidation process and is preparing for a full-fledged price breakout.

Crypto media outlet NewsBTC analyzed in a report on April 29 (local time) that Dogecoin's price compression phenomenon has reached a critical point. Dogecoin has consolidated in a narrow range for several months, accumulating energy. Experts believe that the end of price consolidation aligns with the precursors seen just before past major rallies. A longer price consolidation period typically results in a larger range of volatility upon breakout.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are showing bullish reversal signals. Dogecoin is accumulating trading volume to break through key resistance levels. Accumulation activities by large investors have also been detected in on-chain data. Rising open interest figures indicate a trend of speculative demand re-entering the market. As retail investor interest intensifies again, it is expected to act as a catalyst, revitalizing the entire memecoin market.

Securing the $0.20 support level is crucial for Dogecoin's future trajectory. If the $0.20 price level is maintained stably, an uptrend towards the year-end target of $1 could begin. It is forming its own price momentum, independent of Bitcoin (BTC)'s movements. Investors are monitoring real-time indicator changes and weighing entry points.

The outcome of the Federal Open Market Committee (FOMC) meeting remains a key variable. However, Dogecoin's technical structure is ready for an autonomous surge. Coupled with the timing of liquidity provision, there is a high probability that Dogecoin will replicate its past growth. The market is paying close attention to the ripple effect that the end of compression will bring.

Dogecoin has completed its price consolidation and entered a period of increased volatility. Key on-chain indicators are uniformly pointing to an upward breakout. Investors are observing whether support levels are maintained and the capital flows of whales to formulate their response strategies.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*