Dogecoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-predict-dogecoins-upward-trend" data-wpel-link="internal">Analysts Predict Dogecoin’s Upward Trend</a><br></p>
<p style="text-align: justify">Dogecoin (<a href="https://en.bitcoinhaber.net/major-dogecoin-movement-sparks-intrigue-in-crypto-market" data-wpel-link="internal">DOGE</a>) has shown a weekly gain of 1.68%, keeping it in a positive trajectory despite the bearish <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market</a> sentiment. Analysts are optimistic about its continued upward trend, supported by historical price patterns. A recent chart from TradingShot suggests that Dogecoin might be mirroring past price behaviors, hinting at a potential rise.</p> 
<h2 id="what-does-doge-s-history-reveal">What Does DOGE’s History Reveal?</h2> 
<p style="text-align: justify">Examining Dogecoin’s price history from 2014 to 2017 reveals a dramatic decline of 96.26%, hitting a low of $0.002198. This phase was followed by a lengthy consolidation period lasting about 1,050 days. Subsequently, from 2017 to 2018, Dogecoin experienced a rally, only to see another significant decline by 92.96% between 2018 and 2019, causing investor concerns. This cyclical pattern suggests that Dogecoin might be entering another accumulation phase similar to past events.</p> 
<p style="text-align: justify">Since 2020, Dogecoin seems to be in a new phase of accumulation. Historical trends indicate that this phase could precede a breakout, reflecting past cycles of decline, consolidation, and eventual rally.</p> 
<h2 id="where-is-doge-headed-next">Where is DOGE Headed Next?</h2> 
<p style="text-align: justify">The current Dogecoin chart indicates a first support level between $0.07 and $0.08, sustained by the 1-week moving average line. This level has historically been significant during accumulation phases, suggesting potential for a breakout. The deeper support level around $0.002198 also aligns with past critical levels.</p> 
<p style="text-align: justify">For resistance, the 0.236 Fibonacci retracement level at $0.20 is crucial. Breaching this point is essential for upward momentum. The 0.618 Fibonacci level at around $2 remains a distant target, considered overly optimistic at present.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2> 
<p style="text-align: justify"> – Historical patterns suggest Dogecoin is in an accumulation phase.<br> – Key support lies between $0.07 and $0.08.<br> – Significant resistance is at the 0.236 Fibonacci level, around $0.20.<br> – Long-term resistance at the 0.618 Fibonacci level, near $2, is optimistic. </p> 
<p style="text-align: justify">In conclusion, Dogecoin’s price movements seem to echo past cycles of decline and consolidation, hinting at potential growth. Investors should watch for key support and resistance levels to gauge <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">future</a> movements.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-predict-dogecoins-upward-trend" data-wpel-link="internal">Analysts Predict Dogecoin’s Upward Trend</a></h5>

Analysts Predict Dogecoin’s Upward Trend

Table of Contents

BH NEWS

Další články publikované 25. 7. 2024

15th Edition Connected Banking Summit – Innovation and Excellence Awards 2024; Ethiopia: Ongoing ...

Altcoin Market Poised for Major Rally as Ethereum ETFs Surge Past $1B

Dogecoin (DOGE) Historic Pattern Shows Huge Rally, Says Analyst

Odrax Group Review: Finding Out Psychological Factors Affecting Trading Journey

Analyst Foresees CVX Price Increase

Sparklet Went Live On Exchanges — Is It Worth Investing?

Join our free newsletter for daily crypto updates!