Dogecoin continues to hold firm above the crucial support level of $0.22, even in the face of several bearish developments. A prominent technical indicator, the Gaussian Channel, suggests that the long-term rally for Dogecoin remains intact. This was highlighted by crypto analyst Trader Tardigrade as evidence of Dogecoin's ongoing bullish momentum.
The Gaussian Channel is a momentum tool used to identify trends, with green zones indicating upward momentum. Dogecoin remains in this zone despite significant price corrections since its high in December 2024. The analysis projects a potential rally resuming, possibly pushing Dogecoin above resistance levels at $0.3, $0.4, and even reaching $0.7316, its all-time high.
Trader Tardigrade also speculates an aggressive rally that could propel Dogecoin's price beyond $1 and potentially reach as high as $4.1 in the long term. Currently, Dogecoin trades at $0.247, having increased by 1.5% in the last 24 hours, yet it still remains down by 25% since early February.
