Dogecoin Price To Rally To $0.27? Expert Reveals Critical Level For DOGE

The Dogecoin price is in focus, having gained over 34% in the last seven days. Crypto analyst Rekt Capital has commented on the meme coin’s current price action and highlighted a critical level it needs to hold above to sustain this bullish momentum and rally to $0.27. Dogecoin Price Could Rally To $0.27 If It Holds This Level In an X post, Rekt Capital indicated that the Dogecoin price could soon rally to $0.27. However, he remarked that the meme coin needs to hold the green candle at around $0.22 on the weekly chart for it to reach this price target. This came as he noted DOGE is now performing that key retest of pre-halving resistance into new support. In an earlier analysis, he also revealed that the top meme coin has successfully enjoyed a weekly close above the pre-halving highs. He added that Dogecoin is now on the brink of reclaiming that old resistance around $0.2 as the new support. Indeed, the Dogecoin price is currently retesting the old resistance as part of a broader crypto market correction. The Bitcoin price has dropped to as low as $100,800 today, dragging altcoins alongside it. As a result, DOGE had fallen to $0.22 from its intraday high of $0.25. Meanwhile, the meme coin is also at risk of suffering a correction due to the upcoming $100 million Dogecoin token unlock. Token unlocks typically put selling pressure on an asset, which could lead to a significant price decline. DOGE To Still Reach $1 Despite the recent correction and upcoming token unlock, crypto analyst Crypto Kaleo has predicted that the Dogecoin price will still reach the psychological $1 level. He stated that it is finally time for market participants to start paying attention again to the “king of memes” as it eyes a rally to this price level. Interestingly, his accompanying chart showed that DOGE could even surpass the $1 level and rally to as high as $3. Meanwhile, the rally to these price levels is expected to happen in the second quarter of this year. In the short term, the $0.22 price level is the level to watch out for. A Coingape market analysis also noted that a bearish reversal pattern suggests that DOGE may drop to $0.22 before a sustained rally. ✓ Share: Boluwatife Adeyemi Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/dogecoin-price-to-rally-to-0-27-expert-reveals-critical-level-for-doge/