Dogecoin Price Momentum Oscillator Drops To Levels That Triggered Previous 21,000% Rally
Crypto analyst Dealer Tardigrade has drawn consideration to a earlier sample that fashioned for the Dogecoin price simply earlier than it recorded 21,000% rally. Primarily based on this, he raised the likelihood that the meme coin could also be getting ready for one more parabolic rally regardless of the latest downtrend.
Dogecoin Worth Momentum Oscillator Decline Factors To Parabolic Rally
In an X post, Dealer Tardigrade highlighted the Dogecoin worth weekly chart, whereas noting that the Worth Momentum Oscillator (PMO) has dropped to ranges that triggered previous rallies. DOGE notably surged 21,000% between 2015 and 2018 and 800% between 2022 and 2024, when the PMO declined to its present ranges.
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As such, the Dogecoin worth may once more document a big surge if historical past repeats itself. The analyst’s accompanying chart confirmed that the meme coin may rally simply above the psychological $1 degree this time round. This may mark a brand new all-time high (ATH) for DOGE, with its present ATH at $0.73.
This bullish Dogecoin worth prediction comes amid a latest crypto market decline, with DOGE falling to the $0.10 help degree. Trader Tardigrade suggested that the decline would possibly mark the underside for the main meme coin, as he highlighted an ascending triangle forming on the 4-hour chart.
Crypto analyst Crypto GVR stated that the chart is exhibiting clear indicators of a Dogecoin worth reversal. The analyst predicts that DOGE may rally to between $0.3 and $0.5 in the long run. In the meantime, crypto analyst Top Gainer noted that the Dogecoin worth is at present in an accumulation zone, which may set off a surge for the main meme coin. He predicts that DOGE may document a giant breakout, which might ship its worth to $1.
DOGE May Be Focusing on The $0.13 Zone
Crypto analyst Bitcoinsensus indicated that the Dogecoin worth may very well be concentrating on the $0.13 zone for a breakout. This got here because the analyst famous that DOGE has confirmed a bullish MACD print on the 4-hour timeframe, with the meme coin now rebounding. He added that if this bullish momentum persists within the crypto market, then Dogecoin may goal its final pivot excessive.
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Commenting on the present Dogecoin worth motion, crypto analyst CryptoCeek noted that the temporary drop under $0.10 led to a traditional panic flush. DOGE could also be trying to rebound, however the analyst warned {that a} rejection on the $0.12 worth degree may result in a deeper crash to $0.08. Nonetheless, if the meme coin breaks above this degree, then it may rally to $0.16 within the quick time period.
On the time of writing, the Dogecoin worth is buying and selling at round $0.1070, up over 5% within the final 24 hours, in response to data from CoinMarketCap.
Featured picture from Getty Photographs, chart from Tradingview.com
