According to Coingabbar Price Analysis, On October 19, a Bullish Hammer pattern forms, sustaining a continuous Bull trend.
Dogecoin breaks out of a long-term descending triangle, signaling bullish momentum.
Dogecoin is currently displaying a robust recovery momentum, characterized by the formation of a rounding bottom reversal pattern in its daily chart.
Dogecoin price has surged beyond an ascending parallel channel, signaling significant bullish momentum.
Over the past 15 days, Dogecoin has witnessed a 50% increase in its price and is currently trading above the 20, 50, 100, and 200-day EMA.
If bulls maintain control, Dogecoin could reach $0.1200 today and aim for $0.1600 next week.
Alternatively, bearish dominance may push the price down to test support at $0.1000.
A potential trend reversal could lead to a value drop, testing the lower support level of $0.08800.
KEY LEVELS :
RESISTANCE LEVEL : $0.10800-$0.11200
SUPPORT LEVEL : $0.10000-$0.09500
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
Also read: Ethereum Price Prediction, Will the Sky be the Limit forLokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.