Crypto Analyst Predicts 37% Upshoot For Dogecoin Price, Points Out Support Levels

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	61,762,666,624	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

61,762,666,624

Scrypt

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

High Price	Low Price	Open Price	Prev. Close	52 Week Range
				0.074194 - 0.480780

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.074194 - 0.480780

Exchange	Last Trade	Size	Trade Price	Currency
Cryptocurrency	-	-		USD

Exchange

Last Trade

Size

Trade Price

Currency

Cryptocurrency

USD

Price x Volume	Volume	Base Symbol	Related Pairs
-	-	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

Crypto Analyst Predicts 37% Upshoot For Dogecoin Price, Points Out Support Levels

21/11/2024 10:30pm

NEWSBTC

Crypto analyst MadWhale has provided a bullish outlook for the Dogecoin price. The analyst predicted that the foremost meme coin could witness a significant rally and highlighted support areas that market participants should focus on. Dogecoin Price To Witness A 37% Surge In a TradingView post, MadWhale predicted that the Dogecoin price would likely witness a 37% rally to $0.55 soon. However, the crypto analyst warned that short-term bearish movements or consolidation phases could occur before the major uptrend. MadWhale suggested that this wasn’t something to worry about, as these patterns often appear before a significant surge. Related Reading: $4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern MadWhale highlighted key support levels using Fibonacci retracements to manage these Dogecoin price fluctuations better. The crypto analyst’s accompanying chart showed the $0.3 level as the main support based on the Fib level. A bounce of this support level could send Dogecoin to the $0.55 target. The crypto analyst also indicated that the Dogecoin price is showing significant strength, surpassing long-standing resistance levels, which MadWhale mentioned signals an important shift. The analyst said this is a key development as Dogecoin gains momentum with higher trading volumes and growing social media influence. Regarding resistance levels, $0.4 might be the next big hurdle for the Dogecoin price. Crypto analyst Kevin Capital recently stated that $0.4 is a crucial resistance level for Dogecoin, representing the 0.786 Fib level. He noted that Dogecoin has been testing this Fib level but faced rejection on November 19. While the analyst is confident that the Dogecoin price will eventually break above this resistance level, he remarked that it must happen “cleanly and violently” if the foremost meme coin is to witness any major price rally to the upside. Dogecoin breached this $0.4 level following its run after Donald Trump’s victory but couldn’t hold that level as support and has since been consolidating in the $0.3 range. DOGE Ready For The Next Move To The Upside? Crypto analyst Trader Tardigrade suggested that the Dogecoin price was ready for its next leg to the upside. In an X post, the analyst stated that Dogecoin is ready for the next run. He identified a Hidden Bullish Divergence on the 4-hour Relative Strength Index (RSI) chart, which provides a bullish outlook for DOGE. Related Reading: 297% Spike In Cardano Large Holder Volume Suggests ADA Price Could See Another Uptrend Trader Tardigrade noted that this RSI Hidden Bullish Divergence occurs when the price forms higher lows while the RIS forms lower lows. He added that this signal indicates an uptrend continuation for the Dogecoin price. Meanwhile, it is worth mentioning that crypto analyst Ali Martinez recently affirmed that the Dogecoin bull run is on and noted that these corrections are typical in every parabolic bull run Dogecoin has recorded. At the time of writing, the Dogecoin price is trading at around $0.38, down almost 2% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

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