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Crypto analyst Cryptoinsightuk promotes DogeCoin as one of the top Altcoins now, pinning a clean weekly structure and a new spread that still dominates prices, calls to ascending wedges. He clearly opens “My Top Altcoin Pick: Doge” – with a header, then lays out the case in plain language.
Why Dogecoin is the top Altcoin right now
Weekly Doge/USDT Chart show July’s “Hii” ($0.287) is pressed against a distinct supply band labeled “Resistance” sitting. Below that is a rise in the weekly trendline that included prices since mid-2023, now tracking a low $0.17 of $0.17, between 0.16 seconds and $0.17, along with a horizontal “support” shelves lined up in the previous “swinglow.” The “swinglow → higher → higher → higher → higher” stairs marked on the chart remain the same.
Analysts link structures to specific pattern roadmaps. “Here we are likely forming a broad rise wedge pattern. The potential rise target for this pattern could be as high as the all-time high of $0.75,” he writes.
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Expanding the projection, he adds: “If we extend this further in time, we can even argue that the 1.618 Fibonacci expansion could work around $1.17. Of course, before we can position trading in the market context, we need to break through the resistance level marked on the charts to see such things. Of Doge’s question.”
Momentum is read as claiming there is space. On the charts, weekly RSIs appear in their mid-30s, regaining the signal and sitting in their early 60s in the mid-50s.
Analysts explicitly emphasize the runway. “Before using RSI as an indicator and entering the territory of over-acquisition, there is room for growth. This is usually when things get exciting.” He also frames the setup within the impulsive structure of a higher time frame. “Technically speaking, Doge experienced two important impulses in a higher time frame.
Positioning is important for him too. “If you look at Doge as a top 10 crypto assets, there are all the other ciphers in the top 10, except for that Cardano and Solanareached an all-time high… Doge remains behind and I don’t think the main impulse has come yet. ”
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At runtime, he points to a low border tape that checks for bias. “In the lower time frame, we see higher and higher lows, which leads to trade papers. Risk to reward ratioespecially considering its position as a top 10 asset, it makes a very attractive deal even at its current level. ”
We have peer technicians. With a short community Ping entitled “Good Boy Doge,” analysts repeated the same levels and structure at the beginning of the week. A fellow trader CRG explained patience trading as follows: “There’s not much to update. For now, prices are just calm and consolidated for six months. He summed up the rationale behind the positioning, captioning, “This is why we’re in the $doge trading family.”
From here, the instant trigger is mechanical and visible to the chart. The weekly settlement above $0.241 prints the bullish confirmation analysts are watching at the mouth of resistance. Accepted through a band of $0.27-0.30, Doge peaked above $0.48 in December last year, while reopening its path towards the mid-$0.30 in December last year, but if it fails to maintain the upward trend, it will move to the next demand zone to $0.17 and $0.13.
Unless the higher bass sequence is broken, the wedge continues to frame reliable springboards towards the analyst’s designated targets, with $0.75 as the first historic waypoint, with a 1.618 extension of ~1.17 extension for a fully developed impulse.
At the time of pressing, Doge traded for $0.242.
Featured images created with dall.e, charts on tradingview.com
