Dogecoin Price Prediction and Market Update:💥🚀🚀
DOGE Co, Founder's InsightsDogecoin co, founder Billy Markus believes that the recent crypto market crash is essentially due to investors changing their behavior. It is not so much a problem with the market at its core. In line with this, Markus points out that investors are now more focused on preserving their capital rather than chasing high returns. For this reason, they are moving out of high risk speculative assets like meme coins and pouring their funds into traditional safe havens such as gold and silver.
Market Trends Precious Metals: Gold and silver prices have hit new all, time highs, whereas Bitcoin has been facing difficulties in making a strong case for itself as a digital gold. Geopolitical Uncertainty: The tension between the U. S. and NATO, along with the increase of protests inside the U. S. , have caused the traders to reevaluate their positions. Technical AnalysisFalling Wedge Pattern: DOGE is near the bottom of a year, long falling wedge pattern. If the dip is rejected, it may be the end of the consolidation phase that has lasted most of the year. Double Bottom Pattern: This pattern is the launching pad in the making. The second bounce is currently roughly forming a double bottom at $0. 115. Momentum Indicators: RSI is on its way to a bullish divergence, while MACD is just about to give a golden cross, both pointing at a potential uptrend. Price PredictionBreakout Threshold: The double, bottom formation is expected to bring the price to the main breakout level of the wedge at about $0. 27. Potential Upside: Should the price hold above this level, it could signal a breakout with a target three times the size of the pattern.
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