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Dogecoin

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

Scott Matherson
by Scott Matherson
8 months ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto analyst Trader Tardigrade has provided an update on Dogecoin’s current price action. The analyst revealed that the meme coin has signaled a bullish crossover on the moving average convergence/divergence (MACD) and suggested where the DOGE price is headed next. 

Dogecoin Flashes Bullish Pattern

In an X post, Trader Tardigrade revealed that Dogecoin’s MACD has signaled a bullish crossover and that the price structure is showing multiple higher lows along a recent rebound. The analyst noted that these indicate that DOGE has gained more buying power and may have completed the pullback. 

Related Reading: Dogecoin Price Nudges At Important December 30th Date As DOGE/BTC Chart Aligns Perfectly With Previous Cycle

Based on his analysis, the Dogecoin price looks well-primed to witness a bullish reversal, having consolidated for almost a month since the first phase of its bull run. Trader Tardigrade’s accompanying chart showed that DOGE could rally to around $0.5 on the next leg of its bull run. 

Dogecoin 1
Source: X

The crypto analyst had recently predicted that the Dogecoin price could hit double digits in this market cycle, as it looked to be replicating the two sub-cycles from the 2017 bull run. The first sub-cycle looks to have been the parabolic rally that Dogecoin recorded between October and early November. The crypto analyst suggested that DOGE could reach as high as $30 when the second sub-cycle occurs.

Meanwhile, crypto analyst Master Kenobi suggested that the next leg up for the Dogecoin price could begin around December 30. He stated that the foremost meme coin would likely experience red weeks between now and then. Master Kenobi suggested that these price declines were necessary. Meanwhile, he predicted that Dogecoin could either hit a new all-time high (ATH) by December 30 or next month as Donald Trump takes office. 

DOGE’s Fate Is In Bitcoin’s Hands

In an X post, crypto analyst Kevin Capital stated that Dogecoin is not in control of itself and that its fate lies purely in Bitcoin’s hands. As such, he believes that overly focusing on DOGE’s price action might be a waste of time. However, the analyst provided some insights into DOGE’s current price action. 

Related Reading: XRP Price To $18.22: ABC Wave Breakout Signals Next Phase Of The Bull Run
Dogecoin
Source: X

He stated that Dogecoin is currently trading between the macro golden pocket and the macro .5 Fibonacci level. Kevin further revealed that these are two major areas of support and resistance, and a break of either will cause a “cascading effect of aggressive movement.” Meanwhile, the crypto analyst is confident that the DOGE bull run is still ongoing. 

He stated that nothing shows the cycle is over. Therefore, he expects the Dogecoin price to rally higher sooner or later. In the meantime, he advised market participants to do nothing else but wait for the DOGE bull run to continue. 

At the time of writing, the Dogecoin price is trading at around $0.4, down over 3% in the last 24 hours, according to data from CoinMarketCap. 

Dogecoin price chart from Tradingview.com
DOGE bulls create support | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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