Dogecoin (CRYPTO: DOGE) has been maintaining a long-term bullish structure despite some notable short-term volatility, and trading activity around the asset has noticeably increased.
What Happened: According to a recent chart published by Ben Armstrong, also known as "Armstrong World Markets" on Monday, Dogecoin has been contained within a long-term ascending parallel channel since mid-2020.
The crypto's price action shows consistent interactions with both support and resistance trendlines, which often correlate with major Fibonacci retracement levels.
If #Dogecoin $DOGE can get a monthly close above $0.20 it could set it up to go to the ATH of $0.74.
A breakout above $0.26 would signal strong bullish momentum and potentially attract increased investor interest.
After peaking at nearly $0.74 in early 2021, Dogecoin underwent a sharp correction, finding
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