DOGE Gains 6% as Analysts Predict $0.15 Breakout Amid Bullish Signals
Dogcoin (DOGE) hs cught nlysts ttntion, showing signs of potntil rvrsl following prolongd br mrkt. Prominnt cryptocurrncy nlyst Mstr Knobi idntifid n intriguing trnd in DOGEs fll, chrctrizd by thr distinct cycls of progrssivly shortr durtions.
Th first downtrnd lstd 540 dys, trnslting to roughly 1.5 yrs. Th scond cycl witnssd notworthy rduction in lngth, spnning 364 dys, or xctly on yr. Currntly, th tok is in th third nd smingly finl cycl, which hs lstd round 182 dys, or six months.
Knobi blivs tht th shrinking lngth of ths cycls could hint t shift in mrkt momntum. H suggsts tht th brs, hving xpndd thir influnc, my b ntring dormncy phs. This potntil hibrntion priod my st th stg for strong rcovry in th DOGE mrkt, possibly kicking off frsh bull run.
DOGEs Bullish Momentum Strengthens
At prsnt, DOGE is vlud t $0.103, mrking 6.19% ris ovr th pst 24 hours. This gin coms ftr th cryptocurrncy bouncd off its support lvl of $0.089 on Sptmbr 6. Finncil nlyst Ali Mrtinz hs lso pointd out flling wdg pttrn on its dily chrt. Mrtinz suggsts tht if it holds bov $0.10, it could quickly rlly, potntilly pushing its pric up to $0.15.
Morovr, th 20-dy EMA (Exponntil Moving Avrg), ky tchnicl indictor, currntly sits t $0.100, with th currnt DOGE pric positiond bov this lvl. If th pric rmins bov it, furthr gins my follow.
Adding to this shift in momntum, th Rltiv Strngth Indx (RSI) hs shown rcovry. This momntum indictor rboundd from n ovrsold position on Sptmbr 6, whr it ws t 39. It hs sinc risn to 51.65, indicting improving mrkt sntimnt. Although not in ovrbought trritory, th upwrd trnd of th RSI suggsts tht th positiv momntum my continu.
World of Chrts, populr cryptocurrncy nlysis pltform, hs joind th chorus of optimism surrounding DOGE. In rcnt twt, thy forcst significnt pric incrs for DOGE, prdicting mg bull run nd xponntil growth following brkout in th coming months. This optimistic outlook dds wight to th possibility tht Dogcoin might b on th cusp of mjor pric surg.
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Read more: https://www.tronweekly.com/doge-analysts-predict-0-15-breakout/
Text source: TronWeekly
