Dogecoin Closes Each day Candle Outside Of Falling Wedge Pattern, Why $0.41 Is The Next Vital Level

Crypto analyst Kevin Capital has provided insights into the present Dogecoin price motion. As a part of his evaluation, he highlighted the $0.41 price level as the following vital level for the foremost meme coin.

$0.41 The Next Vital Level As Dogecoin Closes Outside Falling Wedge Pattern

In an X post, Kevin Capital revealed that Dogecoin has officially closed a each day candle outside of the falling wedge channel. The analyst further remarked that the meme coin is now battling the each day super trend after which the macro .786 Fib level, which is correct above at $0.41. He noted that there continues to be lots of work to do, but this represents a solid development.

Source: X

Beyond this development, Kevin Capital mentioned that Dogecoin’s next move will rely upon what the Bitcoin price does next. The crypto analyst seemed cautious as he noted that Bitcoin has still not broken its falling channel. As such, he remarked that if BTC gets rejected at its current level, then the present DOGE setup could fail.

The crypto analyst had previously warned against being overly optimistic about Dogecoin’s current price motion in relation to Bitcoin’s movement. He advised market participants to stay “modestly cautious” about BTC’s price structure until the flagship crypto clears the $104,000 level and breaks the lower high structure.

The crypto analyst further explained that he just doesn’t want the market to get overly bullish when there continues to be lots of work to do. According to this, he suggested that Dogecoin isn’t out of the woods yet, although the meme coin is already showing signs of a bullish reversal.

DOGE To $1 Is Looking Imminent

In an X post, crypto analyst Mikybull Crypto provided a bullish outlook for the Dogecoin price. He stated that DOGE to $1 is looking prime. His accompanying chart showed that the foremost meme coin could reach this much-anticipated price goal and even surpass it, rallying to $1.10. This rally to the $1 goal is anticipated to start as soon as Dogecoin breaks out from the consolidation triangle Mikybull Crypto highlighted.

CoinCodex’s machine learning algorithm also predicted that the Dogecoin price rally to $1 could occur as early as March. Meanwhile, crypto analyst Master Kenobi is optimistic that Donald Trump’s inauguration might be the catalyst that sparks a price rally for the foremost meme coin, at the same time as it eyes the $1 goal.

Dogecoin whales also look to be anticipating this price surge as they’ve been accumulating thousands and thousands of coins. Crypto analyst Ali Martinez revealed that these investors have bought 200 million DOGE within the last 48 hours.