Dogecoin is on the verge of reaching new heights, as its weekly Relative Strength Index (RSI) is nearing the moving average (MA) line. Crypto analyst Master Kenobi suggests this is a vital point for confirming an uptrend leading to a new all-time high (ATH) of $0.74. Overcoming resistance at the upper green trendline is crucial for DOGE.
A positive political development like Donald Trump's return could be a significant catalyst. According to analyst Kevin Capital, Dogecoin needs to break certain levels, including the macro golden pocket at $0.49 and the Fib .703 level, to pave the way for a new ATH.
Similarly, analyst Trader Tardigrade observed a bullish MACD crossover on DOGE's daily chart, hinting at another potential price surge, similar to its rise from $0.11 to $0.43. The "Power of Three" pattern possibly predicts a target of $1, making it a psychologically important level.
As of now, Dogecoin is trading at around $0.38, showing a significant rise of over 15% in the last 24 hours according to CoinMarketCap. The buzz around Dogecoin’s potential leap towards $1 or even $1.2 by the end of January keeps the community optimistic.
