Dogecoin Price Could Climb To $0.209 — Here’s The Level To Watch
03 Novembre 2024 - 1:00AM
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The crypto market saw one of its most positive weeks in the last
seven days, and Dogecoin was one of the major beneficiaries of this
momentum shift. According to a popular crypto pundit, the meme coin
appears not to be done yet, as it readies itself for another move
to the upside. Here’s Why $0.169 Could Be Pivotal To DOGE’s Future
In a new post on X, prominent crypto analyst Ali Martinez has put
forward an exciting outlook for the price of Dogecoin over the next
couple of days. According to the market expert, the largest meme
coin looks primed to cross the $0.2 landmark as the month of
November drags on. This bullish projection is based on the
formation of a bull flag pattern on the Dogecoin four-hour chart.
The bull flag is a technical analysis pattern characterized by a
period of steady upward movement (the flagpole) followed by a short
period of price consolidation or slight downward movement (the
flag). Related Reading: Bitcoin Price Correction Triggers $296
Million In Liquidations – Can BTC Still Hit ATH? Typically, the
bull flag is an excellent upward continuation pattern that could
suggest the persistence of a positive run. The trick is to wait for
the breakout of the flag (the price consolidation) before
confirming the continuation of the upward trend. This breakout from
the flag often results in a move higher, usually measuring the
length of the prior flag pole. According to Martinez, this pattern
appears to be playing out on the Dogecoin four-hour chart, with the
trigger point lying around the $0.169 mark. The analyst noted that
there is a major resistance around $0.168 and a successful close
above this region could see the DOGE price run up towards its 2024
high. Using the length of the first flagpole, the price target for
Dogecoin is placed at around $0.209, which would represent a 29%
rally from the current price point. While a move to $0.209 would
reflect a major leap in the meme coin’s price trajectory, DOGE
would still be about 250% adrift of its all-time high price of
$0.7316. Dogecoin Price At A Glance As of this writing, the price
of Dogecoin stands at around $0.1603, reflecting a mere 1.1% in the
past day. While the meme coin seems to have slowed down in the last
24 hours, its weekly performance still places it amongst the
best-performing assets in recent weeks. According to data from
CoinGecko, the DOGE price is up by nearly 20% in the last seven
days. Related Reading: Analyst Exposes Ethereum Ascending Support
At $2,400 – Best Chance To Accumulate ETH? Featured image from
iStock, chart from TradingView
Dogecoin (COIN:DOGEUSD)
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Dogecoin (COIN:DOGEUSD)
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