by Reza Ali
Renowned crypto analyst Ali Martinez shows Dogecoin (DOGE) stands at a crossroads for its long-term price movement. The shared price chart from X to YouTube shows that DOGE stayed within an upward parallel channel throughout 2014 up to now.
#Dogecoin $DOGE must NOT lose this support level! pic.twitter.com/i11z4m4Keu
— Ali (@ali_charts) March 6, 2025
The price area above current strong support levels puts Dogecoin at risk of a major market decline. The data reveals that DOGE moves upward after exiting the bottom channel boundary by following an upward trend back to the resistance limit.
The Role of Fibonacci Levels in DOGE’s Market Movements
DOGE always falls back towards its lowest support once it misses the channel border limit. DOGE price behavior shows a clear cycle of PRICE growth during 2017–2018 and 2021 which strengthens the impact of its lower boundary on the overall rising trend.
The chart by Martinez includes different Fibonacci zones to show major price points that helped investors understand market history. The significant Fibonacci levels on DOGE’s chart stand at 0.236 at $0.0068, 0.382 at $0.0159, 0.5 near $0.0316, 0.618 at $0.0625, and 0.786 at $0.1652.
Fibonacci analysis shows that price could move further up with the 1.272 Fib target at $2.74 and 1.414 Fib target at $6.24. The $0.16–$0.19 market zone meets both the bottom edge of the ascending channel and the upper part of the Fibonacci retracement at $0.1650.
According to his last YouTube Short Martinez states that breaking below $0.19 support level will likely send Dogecoin down sharply to $0.015 near the 0.382 Fib retracement.
Support at $0.16–$0.19: The Key to Dogecoin’s Next Move
Dogecoin stands at a decision point in its current phase. In past occasions it bounced back from its lowest point in this upward pattern and moved toward resistance before returning. According to Martinez the market will crash to $0.015 if Dogecoin keeps declining past $0.19.
According to Martinez DOGE remains a strong investment option unless price falls under $0.16 then regaining the $0.16 to $2.74 range becomes unlikely. DOGE currently stays inside its ongoing upward channel pattern. According to his latest market analysis DOGE stands a chance at reaching $2.74 or $6.24 despite prevailing below the critical $0.16 support line.
DOGE’s success at holding this support area will show us where the cryptocurrency goes next. The market needs a clear price drop through $0.16–$0.19 before the trend could switch to bearish with a possibility of reaching $0.015. A price decline in that range will remove most of the financial gains DOGE made across numerous market cycles as it enters a critical period.
The outcome of Dogecoin depends on its ability to stay above its key support region from $0.16 to $0.19. DOGE has a chance to climb to $2.74 or $6.24 but losing this level could send it down quickly to $0.015. Investors pay special attention to this defining period because it will determine Dogecoin’s next important development.
#blockchain #crypto, #decentralized, #distributed, #ledger
This news is republished from another source. You can check the original article here
