After a remarkable rally in the market, major cryptocurrencies are undergoing a price correction. In the midst of this, a prominent crypto expert posted on
DOGE could reach $10, expert says
In a post on X he said: “To everyone who said $10 Dogecoin is impossible: show them this chart.He shared a weekly DOGE chart, which showed the meme coin moving in an ascending channel pattern, forming higher highs and higher lows.
Looking at the chart, it appears that DOGE is currently at its highest low, and the next higher peak is expected to be around $10 or $12. The analyst made this statement based on this analysis. However, this prediction is long-term and it could take years before that goal is achieved.
Current price momentum
At the time of printing, DOGE is trading around $0.114 and has experienced a modest price drop of over 1.5% over the past 24 hours. During the same period, trading volume increased by 37%, indicating greater participation from traders and investors, likely due to the upcoming presidential elections in the United States.
Dogecoin (DOGE) Technical Analysis and Upcoming Levels
According to CoinPedia’s technical analysis, DOGE recently broke out of the neckline of a bullish double bottom price action pattern. However, with the recent price correction, it appears that the breakout level or neckline has been successfully retested near the $0.112 level and is currently facing resistance from the 200-day Exponential Moving Average (EMA).
Based on the historical price momentum, if DOGE closes a daily candle above the $0.118 level, there is a high possibility that it could rise by 20% to reach the $0.135 level in the coming days.
Meanwhile, DOGE’s Relative Strength Index (RSI) supports this bullish outlook as it is currently in oversold territory, potentially signaling a major price recovery or rally.
Credit : coinpedia.org
