Dogecoin On The Verge Of First Golden Cross In 4 Years, What Happens Next?
Release: 2024/07/26 12:04 Reading: 255
- Original author：Bitcoinist
- Original source：https://bitcoinist.com/?p=311948
Dogecoin Outlook: Bullish Signals Emerge with Impending Golden Cross
Technical indicators suggest the formation of a golden cross on Dogecoin's chart, signaling a potential rally. Historically, such a pattern has marked the commencement of substantial price increases for DOGE.
Dogecoin Nearing a Golden Cross
Crypto analyst Kevin notes that DOGE is approaching its first weekly golden cross in four years. This technical indicator occurs when the 50-day moving average (MA) crosses above the 200-day MA, signifying a bullish trend.
Past Golden Crosses and Rally
Kevin points out that the last weekly golden cross for DOGE resulted in a six-month price rally with a 18,000% gain. This suggests that a similar surge could be on the horizon.
Analysts Predict Bullish Momentum
Crypto analysts such as Crypto Kaleo and Javon Marks remain optimistic about Dogecoin's prospects. Kaleo believes that "the king of memes" will not be outdone in the current bull market. Marks predicts a massive rally to $0.6533, expecting the coin to exceed $1.25 if it sustains above that target.
Possibility of a Pullback
While bullish, some analysts acknowledge the possibility of a final pullback before a surge to $1. Crypto Kaleo anticipates a retracement similar to the one following the Bitcoin ETF launch in January. However, he emphasizes that such a correction would not be significant in the broader market context.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
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