Dogecoin (DOGE) Set to Hit New ATH? Key Indicators for the Dogecoin Bull Run, Will Elon Musk Factors Be Considered?
The post Dogecoin (DOGE) Set to Hit New ATH? Key Indicators for the Dogecoin Bull Run, Will Elon Musk Factors Be Considered? appeared on BitcoinEthereumNews.com.
Key indicators indicate a potential all-time high for Dogecoin (DOGE) and the cryptocurrency is now showing promising signs of a new bull run. The cryptocurrency’s recent performance may have formed a rounding bottom pattern – a construction that has erected itself in previous cycles. Dogecoin has followed this pattern, which typically takes the token to higher levels when the market euphoria is on, suggesting a great opportunity for growth in the coming months. According to analysts, Dogecoin has also broken above a bull flag pattern, which has shown upward momentum in the past. The good news is that the price trend coincided with previous phases when DOGE reached its all-time highs, inspiring enough for most traders to be optimistic about this development. Analysts say if Dogecoin keeps this up, it could hit multiple target levels, surpass the most ambitious targets. Dogecoin Signals Potential Upsurge with New Indicators Several critical technical indicators are cheering for a lucrative uptrend for Dogecoin among market experts. The history of Dogecoin has seen a series of successively high peaks for each of the cycles, inspiring the hopes of DOGE surpassing previous all-time highs. Analysts have been excited about a breakout from a recent bull flag, which tends to be a good indicator of a return to bullish sentiment in a meme-based cryptocurrency. Additionally, the strengthening of the bullish technical pattern of the rounding bottom formation has also enhanced confidence in the possibility of Dogecoin going up. They observed a similar setup, which, in the past, triggered big price surges. With this kind of structure in commodity markets, that move will be combined with an optimistic market environment, meaning that the likelihood of Dogecoin making new highs in the future phases of the current cycle has increased. DTX Exchange Boosts Trader Interest Amid Market Momentum Ahead…
Filed under: News - @ November 12, 2024 3:28 pm