Dogecoin Gains More Buying Power With Bullish Crossover On MACD, Here’s Where Price Is Headed Next

Cryptocurrency analyst Trader Tardigrade provided an update on Dogecoin’s current price action. The analyst revealed that the meme coin has indicated a bullish crossover on Moving average convergence/divergence (MACD) and suggested the next direction for DOGE price.

Dogecoin is flashing in a bullish pattern

in Share Xthe Tardigrade merchant revealed it Dogecoin’s MACD It indicated a bullish crossover and that the price structure is showing several higher lows along the recent recovery. This indicates that DOGE has gained more purchasing power and may have completed a pullback, the analyst noted.

Based on his analysis, Dogecoin price seems well poised to witness a bullish reversal, having consolidated for about a month since the first phase of its bull run. The accompanying chart of Trader Tardigrade showed that DOGE could rise to around $0.5 in the next phase of trading. Bull race.

He was a cryptographer I predicted recently The price of Dogecoin could reach double digits in this market cycle, as it appears to be repeating the two sub-cycles of the 2017 uptrend. The first sub-cycle appears to be a parabolic rally that Dogecoin recorded between October and early November. Cryptocurrency analyst suggested that DOGE could reach $30 when the second subcycle occurs.

Meanwhile, cryptoanalyst Master Kenobi suggested The next stage for Dogecoin price could start around December 30. He stated that the first meme coin is likely to witness red weeks from time to time. Master Kenobi suggested that these price drops were necessary. Meanwhile, expect Dogecoin to reach a new all-time high (ATH) by December 30 or next month when Donald Trump takes office.

The fate of DOGE is in the hands of Bitcoin

Posted by X, Cryptocurrency Analyst Kevin Capital He stated that Dogecoin does not control itself and its fate lies entirely in Bitcoin’s hands. As such, he believes that focusing too much on DOGE price action may be a waste of time. However, the analyst provided some insights into DOGE’s current price action.

He stated that Dogecoin is currently trading between the total gold pocket and the total Fibonacci level of .5. Kevin further revealed that these are the two main areas of support and resistance, and a break of either of them will result in an “aggressive move cascading effect.” Meanwhile, the cryptocurrency analyst is confident that DOGE’s uptrend continues.

He stated that there was no indication that the cycle had ended. Therefore, he expects the price of Dogecoin to rise sooner or later. In the meantime, he advised market participants not to do anything else but wait for DOGE Running bull To continue.

At the time of writing, the price of Dogecoin is trading at around $0.4, down more than 3% over the past 24 hours, according to Data From Coin Market Cap.

Featured image created with Dall.E, chart from Tradingview.com