Dogecoin rally to $0.50 imminent after DOGE’s ‘overbought’ conditions cool down
Dogecoin’s next possible stop is $0.50 and above. Especially if a historical price fractal fails to play out.
After a 208% breakout in early November, Dogecoin (DOGE) has consolidated within a tight range between $0.35 and $0.48 for four weeks. DOGE’s recent price correction led to a breakout below an ascending trendline, indicating a potential bearish trend shift.
Dogecoin 1-day chart. Source: Cointelegraph/TradingView
However, one analyst pointed out that Dogecoin could be on the brink of another uptrend based on a key technical indicator and repetitive setup from March 2024.
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Author: Biraajmaan Tamuly
