CandleFocus Why Dogecoin’s next minimum target is $3.5, according to analyst
2024-11-08
Author: Content Editor
Dogecoin (DOGE) is experiencing upward momentum following the Donald Trump victory, with an analyst predicting a parabolic rally for the cryptocurrency. The token's historical performance indicates that it consistently rallies within a specific growth channel, with a minimum target of $3.5 being projected. The one-week golden cross pattern is also on the horizon, further supporting a bullish outlook. Additionally, Dogecoin has broken above a long-term descending trendline, suggesting the start of a new bullish run. Technical indicators suggest that DOGE may surge to $4, and support from prominent backers such as Elon Musk has contributed to the token's recent rally. However, the current price offers mixed signals, with the 14-day RSI indicating overbought territory and a potential pullback or consolidation in the future.
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