Is Buying Dogecoin at This Level a Good Move for a 20% Increase?
Dogecoin price has been on a continuous downward trend since October 2022, but now the downtrend has tightened enough for DOGE to potentially have a breakout. If DOGE beats intermediate resistance levels, this could prompt a 23% rally to the buying climax at $0.0946. Technical indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) momentum indicators are supporting a bull run for DOGE, with both pointing to strong bullish momentum. The RSI is above the midpoint and the AO has shown two higher highs. The potential gains for Dogecoin could lead to a surge of 40% up to the $0.106 hurdle. However, if Dogecoin price falls below the selling climax at $0.0707, this would erase the bullish thesis and usher in a drop to a swing low from March 10 at $0.0652.