Dogecoin Back Above $0.2; DOGE Bulls Gearing up, Aiming For Another 15% Jump Ahead of Quarterly Close
The post Dogecoin Back Above $0.2; DOGE Bulls Gearing up, Aiming For Another 15% Jump Ahead of Quarterly Close appeared first on Coinpedia Fintech News
The crypto markets are heading towards the first quarterly close of the year, which will be followed by the most bullish event of Halving. The pre-halving buzz has already been triggered since the beginning of the month; hence, a similar price action is believed to repeat by the end. No sooner than the Bitcoin price range above $70,000, the markets became bullish, with the Dogecoin price marking fresh highs for the year.
The price consolidated above the key support levels for over a couple of weeks and has now triggered a steep upswing towards the local highs. After consolidating for more than 24 months, the trade has flashed bullish signals, with the technicals in favour. Hence, it is now believed that the memecoin craze may soon begin with the DOGE price regaining momentum and heading towards its previous highs to reach $1 during the next quarter.
As seen in the above weekly chart, the DOGE price has stepped into the next phase of the bull run after holding levels around $0.172 and $0.185. This indicates the bulls have accomplished a strong accumulation and could exhibit fresh bullish action as the RSI remains within the upper threshold. Besides, the MACD has just turned bullish after remaining consolidated for a long time. This indicates the buying pressure has just started to accumulate, which may keep up the bullish momentum ahead.
Considering the FIB levels, the 0.236 FIB level has offered the required base for the token to leap long enough to achieve 0.382 FIB levels. However, unless and until the price surpasses and sustains the 0.5 FIB levels at $0.382. This may turn market participants bullish on Dogecoin, who appear to be still unsure of the impending trend. Therefore, similar to the 2021 bull run, the 2024 run may also be a bullish year for the memecoin, which may find its highs above a dollar very soon.
