Dogecoin On the Way to $1: Why Checking Back at $0.48 Is More Important Than Anything?

The journey of Dogecoin's price towards the dream mark of $1 has been a topic of interest for cryptocurrency enthusiasts and traders alike. Reaching $1 would solidify Dogecoin into a new psychological threshold and into the highest price level ever. However, there are different opinions on how and when this will happen. Technical analysis on the TradingView platform shows that the price of Dogecoin may encounter a resistance level at $0.48, then decrease and continue to rise to $1 and beyond. The price of Dogecoin may be rejected at $0.48 Dogecoin is currently trading below $0.48, but technical analysis has indicated a notable resistance level around this price. According to the 4-hour candlestick price analysis of Dogecoin, the price of $0.48 is a level to keep an eye on. This is because Dogecoin's price has not yet shown significant breakthroughs at this level during the current bull market cycle. In particular, the price increase has been highlighted by two rejections just below the $0.48 level, with the highest Dogecoin price to date being $0.475 on November 23 and December 8. The analyst pointed out that Dogecoin's price recently had a strong rebound from the 200EMA on the 4-hour timeframe. This rebound shows that the buying side is still in control, as the price continues to show the possibility of recovery before the downward pressure. The confluence of support at 200EMA with the price momentum creates a foundation for Dogecoin's upward move, paving the way for the expected test at $0.48. The interesting thing is that Dogecoin cannot surpass the $0.48 mark, but this price level is still considered a liquidity zone. Analysts at TradingView emphasize that this level is still a focal point, predicting that Dogecoin may face another rejection at the $0.48 level. Such a rejection could lead to a deeper retreat than any retreat seen so far in this price increase cycle and create an opportunity to consolidate before attempting a stronger breakthrough. What happens after retaking the exam? According to analysts, a rejection at the $0.48 price level will cause Dogecoin's price to drop significantly and erase most of the gains it has accumulated in November. In particular, analysts envision a decline to fill the CME at lower levels down to the $0.20 price range. Such a move is expected to have a devastating impact on the optimism of investors, especially those who predict Dogecoin's price will quickly reach an all-time high. Despite this predicted retreat, analysts still maintain long-term price prospects. When Dogecoin reaches the $0.20 level and completes the consolidation phase, a strong recovery is expected. This recovery is predicted to drive the price decisively above the $0.48 resistance level and pave the way for Dogecoin's journey towards the highly anticipated $1 milestone. With this in mind, analysts have highlighted the $0.24 to $0.20 range as an ideal buying zone to make the most of this move. DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)