Dogecoin price is on an upward trend following Donald Trump’s U.S. Presidential win, surging over 25% earlier in the week. A crypto analyst, The Coach, notes that the downside risk for Dogecoin has decreased significantly due to bullish trends observed in the 1M, 2M, 3M, and 6M candle indicators.
These long-term indicators show strong monthly, quarterly, and biannual performances, suggesting a stable and possibly bullish outlook. The Coach anticipates that if Dogecoin can bounce from $0.19, it might surpass the $0.22 mark and target even higher prices.
The potential obstacles for Dogecoin include market volatility and profit-taking from short-term holders, which could affect sustained growth. Despite positive trends, The Coach states that reaching $1 this month remains doubtful, albeit inevitable at some point.
Support from figures like Elon Musk and Donald Trump could drive further gains. Dogecoin trades at $0.197, reflecting a consistent rise in recent days, with long-term prospects appearing robust.
Kaynak: www.newsbtc.com ↗