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Cryptocurrency trader Milica correctly predicted that Dogecoin The price will rise to $0.3 in October. Interestingly, this was only the trader’s first target, as it also presented higher targets that the first meme coin could reach in the short and long term.
Dogecoin price will rise to $3.80 in the long term
in TradingView ShareMilica predicted that the price of Dogecoin would rise to $3.80 in the long term. The cryptocurrency trader gave these October price targets based on Cup and handle style It is formed on the Dogecoin chart. This is a bullish continuation pattern in which the price rises after a consolidation phase.
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Back in October, Milica stated that if the handle pattern completes and breaks higher, Dogecoin price could hit $0.38 and $0.52 as immediate targets. He added that a break above the neckline of the pattern could lead to a long-term price target of… $3.80 areawhich is in line with the higher resistance levels, which are highlighted on the chart.
In a recent update to the October post, Malika confirmed that trading is still active and that Dogecoin price is heading towards the target. As such, Dogecoin’s price will likely rise to $0.52 soon enough and then to $3.80 in the long term.
Cryptographic analyzer Dima James He also recently highlighted the cup and handle pattern that was forming for DOGE, predicting that the price of Dogecoin could reach $10. The analyst noted that the meme coin has formed this bullish pattern in every market cycle. Dogecoin rose more than 3,300% in 2016 and 12,000% in 2021 after forming this cup and handle pattern.
DOGE completes first weekly gold cross in four years
Self-acclaimed Senior DOGE Analyst on X Kevin Capital It revealed that Dogecoin has completed the weekly Golden Cross for the first time in four years, with the 50 SMA crossing the 200. The analyst noted that this indicates that the price of Dogecoin is likely to rise soon enough.
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He further revealed that in 2020, when Golden cross As it happened, the price of Dogecoin fell for two weeks before rising to all-time highs. As such, he warned market participants to be a little cautious in the short term since Dogecoin may see a correction again, just like it did in 2020. However, he added that if Bitcoin price decides to maintain its upward trend, DOGE will as well. .
Meanwhile, in another post He added that a rise to $1.80 is also an exaggeration, but it could definitely happen depending on Bitcoin’s performance That’s bull run.
At the time of writing, Dogecoin price is trading at around $0.28, up more than 25% over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com