Ali Martinez, in his new post dogecoin If the price exceeds two critical resistances, it will trigger the bull market. believes.
Martinez stated that the DOGE chart is currently trading in a triangle formation, so if it breaks out of this formation, it can reach new highs.
…A weekly candlestick close above $0.0835 could trigger the start of a new DOGE bull run, potentially towards $1. Still, we should pay attention to the $0.0482 support as any signs of weakness at this level could lead to a new yearly low.
Looking at the trader’s chart, the analyst has marked two important resistances for Dogecoin. The first of these appears to be the multi-year diagonal resistance of the triangle, and the second appears to be the horizontal resistance at $0.083.
DOGE is trading at $0.059, a decline of over 91% from its all-time high of $0.731 reached in May 2021.
The trader, who also examined the Bitcoin chart, stated that he closely follows the realized price hot supply metric, which tracks the average purchase price of all coins that have not moved for a week to six months.
Koinfinans.com According to Martinez, as we reported, if on-chain data exceeds its current value, a new bull run will take shape for BTC.
The Bitcoin hot supply indicator shows that the bull run will only reignite if BTC establishes a sustained close above $28,233!
