Dogecoin recently took a dip, but experts think a major price surge is coming soon. Let’s look at why.
A Bullish Outlook for Dogecoin
Market expert Kevin predicts a bullish future for Dogecoin. He’s basing this on several key indicators:
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RSI (Relative Strength Index): Dogecoin’s daily RSI has climbed above 43. This is significant because during the last bull market, it never fell below 43 before major price increases. The current reading of 47 suggests a potential upswing.
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MACD (Moving Average Convergence Divergence):
Dogecoin has consistently stayed above the zero line on the daily MACD during past bull runs. This, too, preceded significant price gains. Kevin expects the MACD to hit zero in about 3-4 days.
Based on these indicators and past trends, Kevin believes Dogecoin’s next rally could start around Christmas.
Another Expert Weighs In
Trader Tradigrade, another crypto analyst, also sees a potential rebound. They point to Dogecoin’s daily RSI entering a key rebound zone. A similar situation in September led to a significant price jump from $0.095 to $0.48. If a similar increase happens this time, Dogecoin could reach $1.35.
The Bottom Line
While Dogecoin has faced recent challenges, several experts believe a significant price increase is on the horizon. The timing of this surge is uncertain, but the indicators suggest it could happen soon, potentially around the Christmas period. Investors are keeping a close eye on key support levels for confirmation.
