Dogecoin Price Signals Another Golden Gross On The 4H Chart, Here’s The Next Target

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As a seasoned crypto investor with a knack for spotting trends and patterns, I find myself intrigued by the recent golden cross on Dogecoin’s 4-hour price chart. Having witnessed the coin’s impressive rally back in early November following a similar golden cross, I can’t help but feel a sense of deja vu. If history repeats itself, we might be looking at another dramatic rally towards $1 by December 7.

It looks like Dogecoin‘s price is indicating another powerful upward trend. In specific terms, a ‘golden cross’ has appeared on the Dogecoin 4-hour chart, which might signal the persistence of bullish movement in the upcoming weeks. This golden cross appearance implies that buyers are currently dominating the market, and it’s possible that Dogecoin could replicate its early November surge.

Golden Cross On The Dogecoin Price Chart

As a keen analyst, I’ve noticed an intriguing pattern in the Dogecoin price chart – a Golden Cross, where a short-term moving average has crossed above a long-term moving average. This significant crossover was spotted by the respected crypto analyst, Trader Tardigrade, who is renowned for his technical acumen on social platform X. Interestingly, this Golden Cross was identified in the Moving Average Convergence Divergence (MACD) indicator, dropping below the zero line. This could potentially signal a bullish trend ahead.

When the MACD line drops below zero and then crosses back above it (known as a “golden cross”), it often signals a shift from negative (bearish) to positive (bullish) investor sentiment, potentially paving the way for price increases. Interestingly, Trader Tardigrade pointed out on social media platform X that a similar MACD golden cross happened with Dogecoin recently. More specifically, a golden cross occurred around November 4, when Dogecoin was trading near $0.15. After this golden cross, there was an extended period of price growth culminating in a high of approximately $0.426 on November 12 – a rise of roughly 184% over just eight days.

In simpler terms, after a significant increase in Dogecoin’s price following a specific event in November (the golden cross), there is a lot of excitement about what might happen next. If Dogecoin follows the same pattern, it could experience a significant surge within the next few days. According to predictions by Trader Tardigrade and the patterns observed in November, this surge could drive Dogecoin’s price up to around $1 by December 7.

Key Levels To Watch On Dogecoin’s Path To $1

Preparing for the anticipated surge in Dogecoin, it’s crucial to surmount specific resistance points to reach the ambitious goal of $1. The initial resistance is currently at around $0.43, followed by the 2024 high of approximately $0.4759. Overcoming these levels would lead Dogecoin prices to trade at their highest levels in three years.

As an analyst, I foresee a potential growth trajectory for Dogecoin. The persistent push and increased demand could propel its value towards approximately $0.50, then reaching the current all-time high of $0.7316. Further, the $1 mark may become a future target should this trend persist. However, it’s crucial to keep an eye on two key support levels at $0.37 and $0.35. Should the anticipated golden cross not manifest as expected, these levels will play a significant role in upholding bullish sentiments.

Currently, the value of Dogecoin stands at approximately $0.404, representing an increase of about 9.8% compared to its lowest point on November 26, which was $0.3679.

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2024-11-30 08:11