DOGE Price Prediction for May 17: Monitor the Breakout Signals from Whale Spike and On-Chain Surge

The price outlook for Dogecoin (DOGE) on May 17 is attracting significant attention as this cryptocurrency today, May 16, is challenging the important resistance zone between $0.25 and $0.26. This specific price range, as noted by the famous cryptocurrency analyst Ali Martinez, has historically been a tough price threshold for DOGE, consistently rejecting attempts to rally. Dogecoin's performance against this price threshold today may serve as a key indicator for its price action tomorrow. Resistance Level 0.25-0.26 USD: Main Barrier for the DOGE Daily Fund on May 17 According to analyst Ali Martinez, this range has repeatedly rejected bullish moves, as evidenced by several past failures to break through, marked by black arrows on the chart he shared.

Important Technical Resistance Zone Martinez emphasized that the range of $0.25–$0.26 is a highly competitive zone, where strong selling pressure continuously outweighs demand. This resistance level has created a psychological and technical barrier that DOGE has yet to decisively overcome. If Dogecoin can break above and hold this zone today, it will indicate a significant change in market sentiment. Such a move could drive increased buying, setting the stage for a price surge of DOGE until May 17. The recent price movement, as seen on the daily chart, shows that DOGE is trading at around $0.2268 at the time of writing, with a strong green candle indicating that the momentum is heading towards the resistance zone. Strong on-chain activity: Positive signs for DOGE price in the short term? Encouraging optimism for Dogecoin's price on May 17, Ali Martinez also highlighted the increase in its on-chain activity. Daily active addresses are on the rise, indicating an increase in user interaction. At the same time, the trading volume measured in USD has also increased, signaling an influx of capital into the Dogecoin ecosystem. Importantly, the number of transactions by whales regarding DOGE has risen, indicating that large holders - often referred to as smart money - are becoming more active.

While the spikes in on-chain statistics and whale activity often occur ahead of significant price fluctuations for DOGE, the current upward trend in these metrics can be seen as a supporting factor for the short-term price potential of Dogecoin as May 17 approaches. Technical indicators provide clues for the path of Dogecoin on May 17. Daily technical indicators for Dogecoin also provide important clues about the price outlook of the coin on May 17. The RSI (Chỉ the đối) strength index is currently around 62.25, below the overbought threshold of 70, indicating that there is still room for the next bullish move. Meanwhile, the MACD indicator (Moving Average Convergence Divergence) shows that the MACD line (in green) has crossed above the signal line (in orange), with the histogram chart increasing positively.

Additionally, based on the recent local low around the $0.14 level, the key Fib extension levels provide a range of bullish targets at Fib 1.618 at $0.141 - which has been reclaimed, previously a resistance turned support; Fib 2.618 at $0.115 - significantly lower than the current price, now a deeper support level; Fib 3.618 at $0.089 - a distant support level in a bearish scenario; and Fib 4.236 at $0.073 - marking the final bearish bottom if the uptrend collapses.