Dogecoin Ready to Break Out? Expert Confirms Final Check Before Surge

Dogecoin (DOGE), the leading memecoin, is stabilizing after undergoing a healthy correction following an impressive 200% price surge last month. This price surge pushed it from a low of November 5 to a high of December 9 at $0.48. After a drop of more than 21% in the past 30 days, DOGE has rebounded, trading at $0.3244 today and showing signs of recovery.

Analyst confirmed final verification: According to a multi-year chart shared by @TATrader_Alan, Dogecoin has consistently followed a pattern of 'Last Check' before plunging into parabolic price increases. These rechecks occur after prolonged consolidation phases, marked by the final resistance zones being breached.

The main observations from the chart include: Historical accuracy: Similar 'Last checks' were observed in 2017 and 2020, each time followed by an exponential price increase. In both cases, the price was consolidated below a significant resistance level before breaking out. Current retest: The latest retest shows that DOGE has successfully reclaimed the important resistance level near $0.32, reflecting the pattern seen in previous cycles. Price increase potential: If this retest follows a similar trajectory to previous ones, Dogecoin could undergo another parabolic price increase, with a significantly higher target of $4.50 according to analysts. What's next? The recent DOGE price correction has formed a falling wedge pattern, a classic bullish setup. This pattern has seen prices drop from a recent high of $0.48 to a low of $0.26. DOGE has bounced off the wedge support level and today has broken through the wedge resistance level at $0.32, a significant breakout level. The current trading price is $0.3243, positioning DOGE well for further price increases.

MACD Indicator: MACD indicates that an upward momentum is forming, with the MACD line crossing above the signal line. This is usually a reliable sign that buying pressure is increasing. Main resistance level: The next important price target for DOGE is $0.41 and $0.48, showing potential for further breakthrough momentum. If DOGE can maintain its growth momentum and surpass these resistance levels, it could pave the way for another impressive price increase, possibly testing the psychological barrier of $0.50. Conclusion Recent price action and chart patterns of Dogecoin indicate a promising setup for a significant price increase. The completion of the "Final Retest," as emphasized by analysts, along with the breakout from the descending triangle pattern, suggests that DOGE is poised for potential price gains in the coming days. With strong technical indicators, including rising MACD cross and historical pattern support for this move, Dogecoin may reclaim previous highs and potentially surpass them. However, as usual, market conditions can change rapidly and it is necessary for investors to be cautious and conduct thorough research before making any trading decisions. As the market watches the next move of DOGE, it seems that the memecoin may once again demonstrate why it is popular in the cryptocurrency space. DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)