According to CoinGecko, over the past 24 hours Dogecoin rose 5,6% to $0,36. According to crypto analysts, memecoin is in for a long-term growth. Technical analysis also points to a bullish scenario for the cryptocurrency.
On the daily chart there is a recovery Dogecoin completes the Morning Star pattern. It points to a potential early reversal that could lead to a breakout of the upper limit. In the event of an upward breakout, trend-based Fibonacci levels point to a target at 50% of $0,4973.
The exponential moving average (EMA) lines also maintain a positive direction despite short-term volatility. In addition, the daily RSI line shows stable upper lows and remains above the average mark.
Technical indicators point to strong bullish momentum Dogecoin . This is confirmed by independent cryptoanalyst Ali Martinez, who notes the huge growth potential of the memecoin in the near future.
In addition to bullish technical patterns, Martinez also pays attention to the activity of large holders Dogecoin , which have purchased 500 million tokens over the past XNUMX hours. The growth of the meme coin was also influenced by the expectation of the launch of DOGE- ETF , which Bloomberg analyst Eric Balchunas believes could happen within the next 75 days.
