Potential 25% Surge Expected for DOGE in Upcoming Rally
Dogecoin price has been consolidating within a range between $0.0712 and $0.108 for almost 40 days. Recent indicators, such as the Awesome Oscillator, Relative Strength Index (RSI), and Wave Trend indicator, suggest that bullish momentum is increasing. If Dogecoin price can successfully flip the $0.0712 level into a support floor, it could trigger a bull rally, with targets at $0.08 and $0.0896. This would result in a 25.77% gain for DOGE holders.
However, if Dogecoin price is rejected at the $0.0712 resistance level, it could retrace 11.50% to reach the $0.0642 support level. A breakout below this support would invalidate the bullish thesis and could lead to a revisit of the $0.0539 level.
Therefore, investors should closely monitor Dogecoin price as it approaches the key resistance level. A successful breakout could lead to a significant upward move, while a rejection could result in a downward retracement. A daily candlestick close below $0.0624 would be a sign of bearishness and would invalidate the bullish outlook.
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