After the market collapsed, the price of Dogecoin suffered from a decrease to $ 0.2, which provided an ideal opportunity for whales to return to work. with The momentum of the Mimi currencyThere are a number of factors that have been provided that indicate that the price may be more than twice. Correct coding analyst High These stimuli in an analysis, show what will lead to the price of Dogecoin to new annual peaks.
But first, re -testing the re -download area?
Just like other digital assets in space, Dogecoin features a low re -download area with a lot of support that can return the price before moving up. In this case, the re -download area is located to $ 0.15, which means that failure to continue the upward trend may lead to re -testing this area.
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To date, the price of Dogecoin is able to escape the test of this area as the bulls continue to obtain support. Initial support appeared significantly higher than $ 0.22. However, since the bears have pressed this level with noticeable sales, support exceeds $ 0.2 remains the main region.
As the encryption analyst shows, the $ 0.15-016 region is the bottom of the DOGECOIN accumulation range. This means that the collapse from here is likely to touch this level, which makes it the ideal place to start entering before the price of Dogecoin starts again.
Motivates to pay the price of Dogecoin to new tops
Outside of the re -download area, there are a number of factors that have developed Dukwin for a potential strong upward step. The first here is the accumulation that followed the price correction. yet, The whales were buying DogIt was characterized by a large withdrawal from the stock exchanges.
Another catalyst is to expect ETF DOGECOIN. So far, multiple companies have applied for ETF DOGECOIN, but none of them have been approved as SEC continues to postpone its decision. But if approval occurs, the important institutional flow can pay the price up.
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The analyst also refers to the launch of Dujius that allows Dogecoin users To take advantage of the decentralized financing on the ethereum network. This is another benefit that strengthened the popularity of Dogecoin among investors and can help in supporting its price.
On the artistic side, the price of Dogecoin also puts the possibilities of slapping, as a golden cross is formed after it crosses the moving a 50 -day moving average for 200 days. Golden crosses have often preceded strong upward movements, and this time is expected to be different.
Hence, the price of Dogecoin should be more than 0.15 to $ 0.16, even in case of failure. If the bulls can maintain this level, the analyst is expected to recover the price of $ 0.25, with the possibility of increasing the upward trend to $ 0.34 -0.40 dollars, before expanding about $ 0.55.
Distinctive image from Dall.e, Chart from TradingView.com
The post Pundit Reveals Catalysts That Will Drive Dogecoin Price 150% To $0.55 first appeared on Investorempires.com.
