The Dogecoin price had a solid week with around 17% pump, now trading in the $0.16-$0.165 range. However, elite crypto analyst Ali Martinez predicts DOGE could be gearing up for another big week.

Martinez’s analysis focuses on DOGE trading at about $0.16489 on Binance. The price recently bounced off a long-term support line that’s been in place since late 2023. This bounce happened right at the $0.152 mark, which is the 0.618 Fibonacci level. When DOGE hits this zone, buyers seem to jump in.

The chart looks at Fibonacci levels from DOGE’s high of $0.485 to its low of $0.056. These levels create important price targets at $0.291, $0.217, $0.185, and $0.152. Each of these represents a potential stopping point as DOGE climbs back up from its lows.

The current setup shows DOGE consolidating just below key resistance, which typically happens before a decisive move in either direction. The fact that it’s holding above the ascending trendline suggests buyers still have control of the market.

#Dogecoin $DOGE is gearing up for a big week. A close above $0.17 could open the door to $0.21 or even $0.29, as long as it holds the key $0.13 support. pic.twitter.com/oUnTLRqe3D

Right now, DOGE needs to break through $0.17. If it closes a weekly candle above this price, we could see a strong move up. The next stops would be $0.185, then $0.217, and potentially all the way to $0.291 if momentum keeps building.

The price is currently moving in a tight range just under resistance, which often happens right before a big move. Weekly closes are particularly important to watch since they confirm whether the momentum is strong enough to sustain higher prices.

For the DOGE price to keep its upward path, it needs to stay above the $0.13-$0.15 support zone. This area has both the upward trend line and Fibonacci support, making it extra strong. If DOGE drops below $0.13, we might see it fall further to $0.12 or even $0.09.

If DOGE closes above $0.17, that resistance becomes new support – usually a good sign for continued upward movement. The targets of $0.21 and $0.29 match up with key Fibonacci levels, making them logical goals if Martinez’s prediction plays out. These price points represent the 0.382 and 0.236 Fibonacci retracement levels respectively, which often act as magnets for price action during recoveries.

The bounce from the 0.618 Fibonacci level ($0.152) is particularly significant since this level often determines whether a trend will continue or reverse. So far, DOGE appears to be respecting this technical structure, which adds weight to Martinez’s bullish outlook.

Read also: Traders, Brace Yourself: $906M In Token Unlocks Set to Hit the Market – $TRUMP, $ARB, and $XCN Lead the List

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The post DOGE’s Big Week Ahead: This Chart Says Dogecoin Price Could Hit $0.29 Soon appeared first on CaptainAltcoin.

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