The post Dogecoin (DOGE) Prints 17% Rally, Is $0.8 Inbound? appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The price of Dogecoin (DOGE) saw another epic surge in the past 24 hours, rising over 17% to a high of $0.4656. If this momentum continues, on-chain analyst Ali Martinez believes DOGE could rally to $0.82. Dogecoin set for bullish breakout In an X post, Martinez released a chart showing DOGE attempting to break out of a bull flag on the daily chart. As it appears on the price chart of DOGE, the bull flag is a bullish pattern that resembles a flag on a flagpole. Related It is usually characterized by a brief period of consolidation during which the price swings sideways slightly downward after a dramatic upward advance. Once it breaks out of the flag, the price will resume upward movement. Martinez forecasts that we may see another 120% rally for DOGE, which can take it to the $0.82 zone. However, DOGE must hold the $0.37 support level to experience the anticipated breakout. The $0.32 might be a floor if the asset experiences a more widespread market correction. Additionally, the possibility of DOGE reaching higher levels is hinged on Bitcoin’s (BTC) price trajectory. DOGE can see higher levels if Bitcoin moves into a new growth phase and market sentiment stays positive. Furthermore, Dogecoin’s value proposition may improve if its ecosystem and community experience additional advancements, such as…

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Filed under: News - @ November 23, 2024 1:21 pm