Here’s when Dogecoin price could hit $2.55, according to analyst
The post Here’s when Dogecoin price could hit $2.55, according to analyst appeared on BitcoinEthereumNews.com.
Amid an exceptionally volatile period for the majority of assets in the cryptocurrency sector, Dogecoin (DOGE) was having trouble staying on course. Over the past week, DOGE’s value plummeted by approximately 25%, reaching a low of $0.082, reflecting the broader crypto market’s challenges. However, a notable shift has occurred, with Dogecoin showing signs of recovery. As of the latest data, the meme-inspired cryptocurrency is trading at $0.10. Adding to the optimism, trading expert Alan Santana projected on August 6 that Dogecoin is poised for a substantial upward trajectory. Projections suggest it could reach as high as $2.55 by 2025, with the anticipated new all-time high range lying between $1.85 and $2.55, translating to nearly a 26-fold increase from current levels. Accumulation zone and key levels to watch According to Santana, the chart pattern identifies the accumulation zone for Dogecoin in the range between $0.053 and $0.065, representing an optimal entry point for investors looking to capitalize on the predicted bull market. Dogecoin price analysis chart. Source: TradingView/Alan Santana Buying DOGE within this zone throughout the remainder of 2024 is advised to position for maximum gains by 2025 The lower boundary of the accumulation zone, set at $0.0489, provides a solid foundation for potential price rebounds. This level is critical, as it is expected to attract strong buying interest, preventing further price declines. The stable zone offers an opportunity for investors to accumulate DOGE in anticipation of future price increases. Furthermore, the first major resistance level is at $0.14, marking a critical point where Dogecoin might face significant selling pressure. Subsequent resistance levels include $0.23, $0.38, $0.39, and $0.47. These levels are essential markers as they represent potential hurdles Dogecoin must overcome to continue its upward momentum. The high point before the projected new all-time high is at $0.7396, followed by…
Filed under: News - @ August 7, 2024 12:20 pm