Dogecoin price is up 7% in the last 24 hours.

This brings DOGE to a price of $0.26 at the time of writing.

One crypto analyst believes that this price action could open the path to $4 for Dogecoin.

Ali Martinez, one of the top crypto analysts right now, has been posting positive analysis about DOGE for a long time. His most recent Dogecoin chart presents some interesting technical patterns that deserve attention if you’re a holder or following the largest meme coin’s movements.

DOGE Chart Analysis

The chart reveals that Dogecoin has been moving within a long-term ascending channel since 2015, showing consistent pattern respect with periods of consolidation followed by significant breakouts. Currently, the DOGE price sits above the upper boundary of this channel, a range we haven’t broken since early February. Technical analysts often interpret this price action as a breakout signal.

#Dogecoin $DOGE is holding strong above the upper boundary of this channel, keeping the path open for a potential rally toward $4! pic.twitter.com/Cx1JnP2aH9

The Fibonacci retracement levels, drawn from DOGE’s historical bottom, highlight crucial support zones. The 0.618 Fibonacci level at approximately $0.0665 has proven to be reliable support, while the 0.786 level near $0.1918 served as strong resistance before the recent breakthrough. The previous all-time high of $0.73 from 2021 remains a significant resistance level to watch.

Read also: Dogecoin Whales on the Move as Analysts Predict a Massive DOGE Price Rally

Dogecoin Price Prediction

Considering the recent breakout and the technical setup, where the biggest meme coin is positioned above the channel’s upper boundary, this could open a path toward the $4 mark, which aligns with the 1.272 Fibonacci expansion level at approximately $4.10.

While this might seem ambitious, the technical structure supports the possibility of such movement, although investors should approach such projections with appropriate caution.

Adding to the bullish sentiment, prominent crypto trader KALEO, who commands a following of nearly 700,000 on X, shared a straightforward yet confident outlook, suggesting to “Buy DOGE at twenty five cents and chill.” This simple yet direct statement from a respected voice in the crypto community has added to the positive momentum surrounding Dogecoin.

The key support levels to watch include $0.13 at the trendline support, $0.19 at the Fibonacci 0.786 level, and $0.07 at the 0.618 retracement.

Buy $DOGE at twenty five cents and chill.

The current technical setup, combined with increasing social media attention from prominent analysts, suggests DOGE could be entering an interesting phase. The convergence of multiple bullish indicators – including the breakthrough of the long-term ascending channel, strong support levels, and growing institutional interest in cryptocurrencies broadly – creates a potentially favorable environment for Dogecoin.

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