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Crypto trader America correctly predicted that Dogecoin The highest price of R0.3300 in October. It is interesting that this was only the first goal of the trader, as they also provided the highest possible target for the meme coin in the short and long term.
Dogecoin Price Will Rise To $3.80 Long Term
Of TradingView postAmerica predicted that the price of Dogecoin could rise to $3.80 in the long term. The crypto trader gave these price targets back in October based on cup and handle pattern building on the Dogecoin chart. This is a bullish continuation pattern where the price converges after a consolidation phase.
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Back in October, America said that if the handle pattern ends and breaks above, the price of Dogecoin can reach $ 0.38 and $ 0.52 as immediate goals. He added that a breakout above the neckline of the pattern would lead to a long-term price target at $3.80 a placecorresponding to high resistance levels, which he highlights on the chart.
In the latest update to the October post, America confirmed that the trade is still active and that the price of Dogecoin is heading towards the target. Therefore, Dogecoin is likely to converge to $0.52 in the near term and $3.80 in the long term.
Crypto analyst Dima James and recently highlighted the cup and handle pattern for DOGE, as he predicted that the price of Dogecoin could reach $10. The analyst noted that the meme coin has formed this bullish pattern throughout the market cycle. Dogecoin rallied over 3,300% in 2016 and 12,000% in 2021 after this cup and handle pattern was formed.
DOGE Completes First Weekly Golden Cross in Four Years
DOGE’s lead analyst calls himself X Kevin Capital revealed that Dogecoin has completed the weekly book Golden Cross for the first time in four years, and 50 SMA crossing 200. The analyst noted that this signals that the price of Dogecoin will probably rise quickly enough.
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He also pointed out that in 2020, when the The Golden Cross happened, Dogecoin’s price dipped for a few weeks before rising to new all-time highs. Therefore, he warned market participants to be a little more cautious in the short term as Dogecoin may face a correction again, like in 2020. However, he added that if the price of Bitcoin decides to maintain its upward trend, DOGE will also do so. .
Meanwhile, in another X post, Kevin Capital pointed out that the Dogecoin price rally to $3.90 in this market cycle seems unlikely. He added that going up to $ 1.80 is also an easy thing but it is definitely possible depending on the performance of Bitcoin this bull is running.
At the time of writing, the price of Dogecoin is trading at around $0.28, up more than 25% 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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