Dogecoin price crash continues? Analysts show fair and optimistic EOY goals
Dogecoin’s price faces huge bearish pressure, down more than 12% in the past week Try to find strong support. Recent market turmoil has caused analysts to question whether this is The decline will continue. It is worth noting that cryptocurrency market experts are both in trade-offs on Dogecoin’s fair and optimistic year-end (EOY) goals, providing insights about the potential for leading meme coins to move forward in this bull cycle.
Dogecoin price end-of-year target
Dogecoin has attracted the attention of the wider crypto market after it The recent pullback from previous highs. Despite the price being below $0.19, new technical analysis of pseudonym trading view Crypto Expert Tradingshot has been predict Bullish Dogecoin’s fair value and optimistic year-end goals.
Analysts Dogecoin’s ongoing downward trend– Indicates that the price drop can mark the beginning of the final bullish leg of the current cycle. According to the corresponding chart, Dogecoin respects long-standing Fibonacci channel upward structurebounced right from its 1W MA200, which served as the bottom of the cycle in early April. It is worth noting that the price has rebounded since then and is now consolidated near the 1W MA50, marking the Potential run to new highs.
Tradingshot noted that Dogecoin’s current price behavior is consistent with past market cycles, and Meme Coin started a continuous rally after testing MA200. Channel UP structure has also guided Altcoin’s price changes in history. Loop top Consistent with Fibonacci’s expansion level.
Charts based on TradingView experts Bulls Run in 2021 More than 1.5 Fibonacci levels show uncommon deviations from the channel. For the current cycle, the chart highlights two keys Year-end goals. The fair value is set to $1.00, consistent with the 1.0 fibonacci extension and the MMB 3SD above. The analyst also predicted an optimistic target of $3.50, consistent with the level 1.618 Fibonacci level, which was previously reached at the top of the January 2018 cycle and exceeded at its peak in May 2021.
Golden Cross and MMB trends support Doge Eoy predictions
Tradingshot’s end of the year Occo Coin A 1W gold cross was formed in its price list, further strengthening. Historically, this technology model marked the beginning of explosive price increases, not only Doge, but other cryptocurrencies on the market.
Merge now Mayer Multiple Bands (MMB)TradingView analysts noted that in the last year of each bull cycle, after formation 1W gold crossDoge price has been reaching MMB 2SD first, and then climbing to MMB 3SD above. Currently, Dogecoin has touched MMB 2SD, but has not tested 3SD, indicating unexplored upward potential.
Featured Images from Getty Images, TradingView.com Charts
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