Dogecoin’s 500% Surge? Analyst Predicts Breakout to $0.65 Soon!
The post Dogecoin’s 500% Surge? Analyst Predicts Breakout to $0.65 Soon! appeared on BitcoinEthereumNews.com.
Analyst predicts a 500% surge for Dogecoin, with RSI showing a potential breakout. Despite market downturns, Dogecoin’s bullish signals and strong holder support indicate a possible rally. Dogecoin [DOGE] has maintained a relatively stable price over the past month despite the wider crypto market’s downturn. However, according to market analyst Javon Marks, the situation could change dramatically for Dogecoin in the coming months, with potential gains of over 500% on the horizon. Hidden bullish signals, including a positive divergence between Dogecoin’s RSI and price action, are emerging, indicating that a major upward move could be imminent. Potential for a 500% price surge Javon Marks pointed out that Dogecoin’s Relative Strength Index (RSI) is nearing a breakout point, and this divergence could lead to a significant bull run. Javon said, “DOGE’s RSI is nearing a breakout point and diverging (Hidden Bull) with Prices, a major bull move could be on the way!.” According to this analysis, if Dogecoin’s price manages to break and hold above current resistance levels, it could trigger a climb of over 513%, bringing the price to the $0.6533 mark. This projection is based on previous price behavior and technical patterns. In early 2021, Dogecoin reached an all-time high of $0.73, followed by a prolonged downtrend and a period of consolidation in late 2021 and throughout 2022. Although Dogecoin showed some signs of recovery in 2023, the momentum was not sustained. The current analysis suggests that the upcoming bullish move could push Dogecoin back towards its previous highs, with targets of $0.24 and $0.36 already identified by analysts. Source: X Price action and market sentiment Dogecoin’s price has recently broken out of key resistance levels, according to the analysis. As of press time, Dogecoin was trading at $0.1051, representing a 5.04% increase over the last 24 hours and…
Filed under: News - @ August 20, 2024 3:22 pm