Crypto Trader analyst Tardigrade provided an update on Dogecoin’s current price action. The analyst pointed out that the meme coin showed a bullish crossover in central convergence/divergence (MACD) and suggested where DOGE price is headed next.
Dogecoin Flashes Bullish Pattern
In an X postTrader Tardigrade reveals that MACD of Dogecoin it has signaled a bullish crossover and that the price structure is showing a lot of downsides along with the recent rebound. The analyst noted that this shows that DOGE has gained more purchasing power and may end the pullback.
Based on his analysis, the price of Dogecoin looks ready to witness a bullish reversal, as it has been consolidated for almost a month since the first stage of its run. A chart with Trader Tardigrade showed that DOGE could reach around $0.5 in the next leg of his bull is running.
The crypto analyst had it just predicted that the price of Dogecoin could reach double digits in this market cycle, as it looks to repeat two mini-cycles since the 2017 bull run. The first sub-cycle appears to have been the parabolic rally that Dogecoin recorded between October and early November. A crypto analyst suggested that DOGE could reach as high as $30 when a second sub-cycle occurs.
Meanwhile, crypto analyst Master Kenobi suggested that the next leg of Dogecoin’s price could start around December 30. He said that the leading meme coin will likely experience red weeks between now and then. Master Kenobi suggested that this price drop was necessary. Meanwhile, he predicted that Dogecoin could hit an all-time high (ATH) on December 30 or next month as Donald Trump takes office.
DOGE’s Fate Is in Bitcoin’s Hands
In X post, crypto analyst Kevin Capital said that Dogecoin is not self-governing and its fate is solely in the hands of Bitcoin. Therefore, he believes that focusing too much on DOGE’s price action may be a waste of time. However, the analyst provided more details on DOGE’s current price action.
He said that Dogecoin is currently trading between the big gold pocket and the macro .5 Fibonacci level. Kevin also revealed that these are the two major areas of support and resistance, and their break will cause “an increasing effect of aggressive movement.” Meanwhile, the crypto analyst is convinced that the DOGE bull run is still going on.
He said there was no indication that the cycle was over. Therefore, you expect the value of Dogecoin to rise sooner or later. In the meantime, he advises market participants to do nothing else but wait for the DOGE run the bull to continue.
At the time of writing, the price of Dogecoin is trading at around $0.4, down more than 3% in the last 24 hours, according to the report. data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
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