Dogecoin, the popular meme coin, could be on the verge of a big price jump, according to a crypto analyst. Ali Martinez, who has a large following on social media, says there are two key signals to watch for that could indicate a breakout.
What to Watch For
1. RSI Breakout: The first signal is if Dogecoin’s Relative Strength Index (RSI) breaks through a downward trendline on its daily chart. The RSI is a tool that helps determine if an asset is overbought or oversold. If the RSI breaks above the trendline, it could mean Dogecoin is gaining momentum and is ready to rise.
2. $0.11 Resistance: The second signal is if Dogecoin can break through its resistance level of $0.11. Right now, Dogecoin is trading around $0.106, so it’s not far off. If it can push past this level, it could signal that buyers are taking control and the price is ready to move higher.
Other Crypto News
While Dogecoin is making headlines, other cryptocurrencies are also showing some interesting activity.
- XRP Whales:
Large investors, known as whales, have been buying up XRP, the cryptocurrency behind Ripple. Over the past 10 days, they’ve bought 380 million XRP, worth about $228 million.
- Ethereum Sell-Off: On the other hand, there’s been a sell-off in Ethereum (ETH). In the past three weeks, more than $1.26 billion worth of ETH has been sent to crypto exchanges, which could suggest that some investors are looking to cash out.
Important Note:
This is just an analysis from one crypto expert. It’s not financial advice, and you should always do your own research before making any investment decisions. /p>
