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Cryptographic analyzer Master Kenobi Provided insight into Dogecoin’s current price movement. The analyst revealed that the first meme coin was approaching the moving average (MA) line, which could lead to a new all-time high (ATH).
Dogecoin is eyeing ATH as the weekly Relative Strength Index (RSI) approaches the MA line
in Share XMaster Kenobi revealed that Dogecoin’s weekly relative strength index (RSI) is close to the moving average. He pointed out that this level is important and must be broken to confirm the continuation of the upward movement. The cryptocurrency analyst added that if these barriers are removed,… current ath The $0.74 value becomes the next major point of interest for Dogecoin.
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As part of his Dogecoin analysis, Master Kenobi He also noted that DOGE had a strong week, although it was unlikely to close in the ATH zone. As part of the hurdles DOGE has to overcome, the cryptocurrency analyst highlighted the resistance the first meme coin is facing at the upper green trend line on its accompanying chart. This comes after DOGE successfully tested the lower green trend line two weeks ago.
From a fundamentals perspective, the cryptocurrency analyst noted this Putting Donald Trump back in office In the White House it could serve as an important indicator and catalyst for Dogecoin reaching its current ATH.
Cryptographic analyzer Kevin Capital I also shared an analysis of what needs to happen for Dogecoin to reach and exceed its current ATH. First, he mentioned that the meme coin needs to break the total golden pocket at $0.49, then the .703 Fibonacci level at $0.53, and then break above $0.59. The cryptocurrency analyst confirmed that a clean break above $0.59 would pave the way for a new ATH for Dogecoin.
DOGE is ready for the next step
Dogecoin price looks well prepared for the next stage of its bull run. Posted by X, Cryptocurrency Analyst Slow growing trader It revealed a bullish crossover for the Dogecoin MACD on the daily chart. He added that the previous bullish crossover triggered a massive boost for DOGE when it rose from $0.11 to $0.43.
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The cryptocurrency analyst added that Dogecoin could post a similar rally again. The accompanying chart showed that DOGE could reach its long-awaited milestone Psychological level $1 At this next stop.
In another post This pattern makes $1 a reasonable target, he added. Master Kenobi had also recently predicted this Dogecoin could rise Up to $1.2 if the memecoin breaks its ATH by the end of January.
At the time of writing, Dogecoin price is trading at around $0.38, up more than 15% over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com