As a researcher with a background in crypto analysis, I find Kevin’s (formerly Yomi OG) analysis of Dogecoin intriguing. The fact that the 12-day time frame on the Gaussian channel has turned green for the first time since December 2020 is an important development for DOGE investors. This indicator has proven to be reliable in signaling trend changes, and I believe it suggests a potential strong bullish trend for Dogecoin in the coming months.
Dogecoin (DOGE) is once more drawing attention as the popular meme coin may be on the verge of soaring higher. This development comes after cryptocurrency analyst Kevin, previously known as Yomi OG, shared his analysis on Dogecoin, emphasizing a significant technical signal that has become positive for the digital currency.
Dogecoin Indicator Turns Green For The First Since 2020
I analyzed Kevin’s recent post on X (previously known as Twitter). In his update, he pointed out an intriguing development regarding Dogecoin: the 12-day time frame on the Gaussian channel has turned green for the first time since December 2020. Based on this observation, Kevin suggested that a significant bullish trend might be in store for the meme coin in the upcoming months.
Kevin pointed out that this particular indicator has consistently signaled trend reversals for Dogecoin, implying that the cryptocurrency may have experienced a bullish shift.
In a previous Dogecoin-related post, Kevin expressed his belief that this cryptocurrency has shown more resilience than most other altcoins amidst the prolonged crypto market downturn and sideways trading. He further projected that if Dogecoin manages to maintain its position above the important Fibonacci level of 0.382 on the weekly chart, as well as the blue support area, it could potentially reach the $0.26 to $0.33 price range – considered a ‘golden pocket’ by some traders.
As an analyst, I’ve noticed Kevin’s bullish take on Dogecoin in his recent X post. On the four-hour chart, he pointed out a return to the larger symmetrical triangle and considered it a “bullish sign.” In his view, Dogecoin regaining key moving averages is crucial. Furthermore, he anticipates that the meme coin may challenge the $0.175 price level at some point due to significant liquidity in that range.
A crypto expert emphasized the significance of the $0.175 price mark, stating that a substantial amount of liquidity lies in this region based on a 3-month perspective. Moreover, most of the remaining liquidity exists within the $0.20 to $0.23 range. This bullish sign for Dogecoin was highlighted by Kevin, as market makers tend to operate where liquidity is more abundant, and currently, Dogecoin boasts greater liquidity in comparison.
DOGE’s Next Move
CrediBULL Crypto, a well-known crypto analyst, has stated that Dogecoin is currently at a critical juncture. Although he expressed optimism, he warned that this could be make or break time for the meme coin. Remarkably, Dogecoin reached this significant point when Bitcoin touched its lower price range. Consequently, CrediBULL anticipates a price surge for Dogecoin if Bitcoin exhibits a bullish turnaround.
Current analysis from crypto expert Crypto Daily indicates a bullish outlook for DOGE in the short term. He anticipates Dogecoin reaching prices between $0.33 and $0.35 imminently. Furthermore, if the coin manages to close the day above $0.18308, it could potentially surge towards $0.57.
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2024-06-14 03:22