The post Will Dogecoin (DOGE) Repeat 2021 Bullish Performance? appeared on BitcoinEthereumNews.com.

Analyst claimed that Dogecoin (DOGE) might reach $1. Dogecoin might extend its rally to $0.1 if buyers regain control. A break below the $0.080 support could erase more gains and send the coin to $0.078. Hov, a certified Elliott Wave analyst, posted on X, noting that Dogecoin’s (DOGE) price would climb significantly. Despite his bullish forecast, Hov admitted that reading the price action on a micro timeframe was difficult.  The analyst, however, opined that a retest of the $0.06 support could offer a good entry for those looking to buy the meme coin. $DOGE Still playing nicely but the move from the low, well pretty much all directions have been very 3 waved for #doge (threaded) Making it hard to read on the micro My thoughts are still the same While we could get another tap of that .06 support level I wouldn’t be cutting… pic.twitter.com/GlLrlfcNu1 — Hov (@SenseiHov) February 15, 2024 On January 26, Hov pointed out that DOGE was close to its bottom. Using the Elliott Wave  Theory, the analyst posted a chart showing how Dogecoin would rise above $1. For context, the Elliott Wave Theory can predict long-term price movement based on repeating patterns or changes in investor sentiment. Therefore, Hov’s $1 price prediction was not for the short term. Instead, the analyst focused on the long-term horizon. Beyond the technical viewpoint, the analyst also mentioned that DOGE’s potential inclusion in Elon Musk’s X Payments could drive a rally for the coin. Dogecoin Price Analysis From the 4-hour timeframe, Coin Edition observed that DOGE’s attempt at retesting $0.090 was rejected. At press time, Dogecoin was trading at $0.085. On the upside, DOGE faced resistance at $0.088. In a highly bullish case, DOGE rising above $0.088 could swing the value close to $0.1. However, if the coin fails…

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Filed under: News - @ February 17, 2024 5:22 am