The post Dogecoin (DOGE) to Exceed $1 and Claim Title ‘King of Crypto,’ Says Top Analyst 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. Dogecoin’s recent rally has solidified its position as a key player on the crypto market, earning it the handle of the King of Crypto. DOGE achieved a higher high on the weekly chart after breaking through a crucial high-time frame (HTF) resistance level of $0.32 — a potent technical indication of ongoing bullish momentum. An important HTF resistance that DOGE has successfully overcome is $0.32, as shown on the chart and highlighted by Skew analytics. This breakout is crucial because it indicates a structural change in the asset’s trend, opening the door for short-term price stabilization between $0.32 and $0.40. These days, the $0.40 mark is a crucial target for bulls. The likelihood of additional upward movement increases if this level holds. Furthermore, a pivot point is the 0.5 Fibonacci retracement level at $0.398. DOGE/USDT Chart by TradingView A firm close above this level could act as a launchpad for DOGE, increasing its price velocity. Because of this, $0.42 is a crucial level that initiates the rally’s subsequent leg. At $1.16, the chart also makes reference to the 1.618 Fibonacci extension. Even though this goal might seem lofty, DOGE could enter this zone if technical strength and market momentum work together. Related More general market conditions, investor sentiment and DOGE holding its position above the $0.42 threshold…

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Filed under: News - @ November 18, 2024 9:18 am