Dogecoin prices seek to recover again as broader cryptocurrency markets witness bullish reversals Psychological $0.2 level. Crypto analysts such as Kenobi Master suggest that the leading meme coins are ready to reach new highs.
Dogecoin price is ready to break through drop wedges
exist X Postscrypto analyst Trader Tardigrade said Dogecoin’s price showed a drop-in wedge breakout. This is what he revealed, a bullish cross occurred randomly Relative Strength Index (RSI) Biweekly chart. The chart he accompanied shows that Doge could exceed the $0.2 price level of the move.
Interestingly, in another X post, Trader Tardigrade It is predicted that the price of dogeocoin may soon outperform the price of Bitcoin. Analysts revealed that the current balance (obvious) pattern on the DOGE/BTC chart reflects the previous one. He added that this model emerged before the leading meme coins, thus surpassing flagship cryptocurrencies.
Crypto analysts point out that given that both price action and indicators show the same pattern, he believes Dogecoin price It will soon be “sharp” over Bitcoin. If Doge replicates IT price performance from October to December 12, 2024, then Doge may enjoy huge benefits. Meme coins have performed poorly for most of 2024, but ended the year with the record of the highest Young Time (YTD) of the top ten cryptocurrencies earning the most.
Trader Tardigrade also believes that the price of Dogecoin may be another time for the Bulls. He revealed that during this cycle, Doge has broken it down into a round bottom. Based on this, he asserted that the main meme coins are about to make a “huge” cow. The chart he accompanied shows that when recording this huge bull run, Doge could hit $2.8.
Updates on Doge Macro Charts
In X posts, Crypto Analyst Kenobi Master An update to the macro chart of Dogecoin price is provided. He said the macro chart and comparison of the current configuration with the situation in 2017 shows that the meme coins have all the necessary ingredients for a “large” pump.
The crypto analyst also revealed that the 21-day EMA on the 3-day chart shows that the current outlook for Dogecoin prices is optimistic. He noted that other factors, such as bullish differences and trend line breakdown Relative Strength Index (RSI) This bullish view is also strengthened. It is worth mentioning that analysts recently predict that the leading meme coins may be at the new historical peak (ATH) from June to June.
At the time of writing, Dogecoin price is trading at about $0.18, up over the past 24 hours. data From CoinMarketCap.
Featured Images from Getty Images, TradingView.com Charts
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