Dogecoin has now presumably entered a long-term bullish rally that could send its price higher from here, according to one crypto analyst. This comes
Sumber: TradingView.com
However, the long-term bullish rally did not just begin, Behdark explains. Apparently, the rally had begun back in October 2023 when the price had successfully broken above $0.06. Naturally, this bull rally has seen periods of uptrend and downtrend, helping the analyst identify the next wave that the price just entered.
Invalidation Thesis For The Analysis
Like with any analysis, Behdarks analysis also comes with a level at which the predicted bullish rally will be invalidated. In this case, the crypto analyst outlines that the Dogecoin price must maintain above $0.08, as “closing a daily candle above the invalidation level with violate the analysis.”
Nevertheless, Behdark believes that the DOGE price is now in a D wave after the completion of the C wave following its rise above $0.2. This D wave has been historically bullish for the price, triggering at least a 100% price increase.
As for the price targets, Behdark puts the first target at $0.28. After this, a retracement is expected back to the $0.16 level, which would mark the completion of the E and F waves. Then once the G wave begins, the analyst sees the price rising over 100% to $0.38.
Presently, the Dogecoin price is still trading above $0.16, with an 18.6% increase in the last week. It remains the 8th-largest cryptocurrency in the space, with a market cap of $24.18 billion at the time of writing.
Disclaimer:
Pandangan dalam artikel ini hanya mewakili pandangan pribadi penulis dan bukan merupakan saran investasi untuk platform ini. Platform ini tidak menjamin keakuratan, kelengkapan dan ketepatan waktu informasi artikel, juga tidak bertanggung jawab atas kerugian yang disebabkan oleh penggunaan atau kepercayaan informasi artikel.
South Korea: Upbit Investigated for Over 500,000 KYC Violations
MacBook Users with Intel Chips Urged to Update for Enhanced Security
Solana-Based Trading Terminal DEXX Hacked, Over $21M in User Losses
South Korea to Enforce 20% Crypto Tax in 2025 with Increased Exemption Limit
0.00