Meme Cryptocurrency Dogecoin is now Trade at an significant level of support Against Bitcoin, the level that previously caused the historical course of the bull in 2021. This significant observation comes from Masteranand’s cryptographic analyst, whose latest technical analysis of the TradingView platform emphasizes the potential of another significant Dogecoin rally based on its results against Bitcoin in time -time.
Dogecoin returns to the bull market support zone against Bitcoin
According to Masteranand, Dogecoin came in again What is described as the strongest historical scope of support compared to Bitcoin on a weekly chart. In particular, this zone, which is highlighted in blue on a weekly chart below, acted as resistance at the beginning of 2021, before the Dogecoin price increased to modern ups and exceeded bitcoins in the fifth wave of his bull. After this rally from 2021, the previous resistance fell into support and maintained powerful in many years in many years.
The support area was initially tested in June 2022, and then repeated confirmations at the end of 2023, at the beginning of 2024 and again at the end of 2024 as bitcoins he still surpassed the rest of the cryptographic market and He increased her dominance. However, Dogecoin was reflected in this blue zone every time it was processed, showing its validity as a key accumulation point and providing solid foundations for each rally.
At the moment, Dogecoin’s price action against Bitcoin has a higher low formation in a blue zone compared to previous years, which is stubborn with structural development. Masterananda expresses absolute confidence in this support zone, keeping the company, determining the current price level as “the best possible range of entry” before the price of the year.
What can happen next to Doge?
If Dogecoin repeats his previous behavior in the bull cycle, the current phase of consolidation and accumulation He could act as a start Up to a significant trajectory up. Therefore, Doge could jump over the blue support zone and exceed Bitcoins in the coming months. It can be tough, considering that Bitcoin has He received the most influx From institutional traders and dictated the pace of the entire market since the end of 2023. On the other hand, Dogecoin is becoming an increasingly popular choice among retail traders. All this A stubborn catalyst is needed This can cause inflows falling into the meme coin.
The Dogecoin/Bitcoin weekly chart shared by the analyst emphasizes the clear extension of Fibonacci indicating the modern versatile Maksa, if the price of Doge follows this path and reflects up from the support zone. At the time of writing, Para Dogecoin/Bitcoin trads on 0.00000185. The all -time 2021 is 630% augment by 0.00001350, which means that the meme coin has many better results to return to the top against Bitcoin.
At the time of writing, DOGE trads $ 0.162, which is an augment of 4.2% in the last 24 hours. Bitcoin trads USD 87,390, which is an augment of 3.8% at the same time.
A distinguished picture from Adobe, chart from TradingView.com
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