Dogecoin Weekly RSI Approaches The MA Line, Can Price Resume Uptrend To Break $0.74 ATH?
cryptocurrency analyst Master Kenobi Provides insight into current Dogecoin price action. Analysts revealed that the most important meme coin is approaching the moving average (MA), which could lead to a new all-time high (ATH).
Dogecoin Eyes ATH As Weekly RSI Approaches MA Line
in a X postsMaster Kenobi revealed that Dogecoin’s weekly relative strength index (RSI) is approaching the MA. He said this is a key level that needs to be breached to confirm continued gains. The cryptocurrency analyst added that if these hurdles are cleared, then Current ATH $0.74 becomes the next major focus for Dogecoin.
Related reading
As part of his Dogecoin analysis, Master Kenobi It was also noted that DOGE had a strong week, although it is unlikely to close in the ATH zone. As part of the hurdles DOGE needs to overcome, the cryptocurrency analyst highlighted the resistance the most important meme coin faces above the green trendline in its accompanying chart. DOGE successfully tested the lower green trendline two weeks ago.
From a fundamental perspective, cryptocurrency analysts note Donald Trump reinstated The White House decision could serve as both an indicator and an important catalyst for Dogecoin to reach its current ATH.
cryptocurrency analyst Kevin Capital An analysis of what Dogecoin needs to do to reach and surpass its current ATH was also shared. First, he stated that the Meme token needs to break above the macro gold pocket at $0.49, then the Fib 0.703 level at $0.53, and then $0.59. The crypto analyst asserts that a clean break above $0.59 will pave the way for Dogecoin to reach a new ATH.
DOGE ready for the next stop
The price of Dogecoin looks ready for the next bull run. In X post, crypto analyst tardigrade merchant It was revealed that a bullish Dogecoin MACD crossover has appeared on the daily chart. He added that a previous bullish crossover triggered a sharp rise in DOGE, when it surged from $0.11 to $0.43.
Related reading
The cryptocurrency analyst added that Dogecoin could see another similar rally. He attached a chart showing DOGE could reach highly anticipated levels Psychological $1 level during the next stretch of the journey.
In another X post, Trader Tardigrade mentioned that the memecoin has just entered distribution in the “Power of Three” (PO3) mode. He added that this pattern makes $1 a reasonable target. Master Kenobi also recently predicted Dogecoin may rebound If the meme coin breaks through its highest peak at the end of January, it could reach as high as $1.2.
As of this writing, Dogecoin price is reportedly around $0.38, up more than 15% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
