Dogecoin Looks Ready for Upward Journey After Clearing Major Resistances, Says Crypto Trader – Here’s His Target

By The Daily Hodl - 4 months ago - Reading Time: 2 minutes
Sun, Dec 10, 2023 10:15 AM

Dogecoin Looks Ready for Upward Journey After Clearing Major Resistances, Says Crypto Trader – Here’s His Target

A trader thinks that clear skies are ahead for Dogecoin (DOGE) now that the top memecoin has moved above key price hurdles.

Analyst Ali Martinez tells his 34,800 followers on the social media platform X that Dogecoin will likely continue to rally as long as it is above $0.095.

According to Martinez, crypto bulls accumulated billions of DOGE at $0.095 – a price area that he thinks is now acting as firm support.

“Dogecoin has successfully cleared all major resistance levels!

With the $0.095 support proving strong – thanks to 63,280 addresses buying 3.2 billion DOGE – the path looks set for an upward journey. If this support remains firm, we could see DOGE aiming for $0.14 next.” 

At time of writing, DOGE is trading for $0.01.

The trader is also keeping a close watch on the Ethereum (ETH) scaling solution Polygon (MATIC). Martinez says that MATIC will likely witness more rallies as long as it is moving above $0.80.

“Most MATIC tokens were purchased or acquired between $0.80 and $0.86, with 42,000 addresses holding close to 5.8 billion MATIC in this key demand zone.

Given the minimal resistance ahead, Polygon seems primed for a bull run as long as this level holds.” 

At time of writing, MATIC is trading for $0.909.

Generated Image: DALLE-2

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