Dogecoin Price Macro Target Remains Above $2, And | Crypto News
Crypto analyst Hov has acknowledged that the macro goal for the Dogecoin price stays unchanged despite the current crypto market crash. This comes as DOGE seems to reclaim the psychological $0.2 stage, which might spark a important rebound for the meme coin.
Macro Target For The Dogecoin Price Remains Above $2
In an X post, the crypto analyst acknowledged that he still has the same macro goal for the Dogecoin price. His accompanying chart confirmed DOGE might rally to $3 by next yr, which might mark a new all-time high (ATH) for the altcoin. However, there may be the chance that the meme coin might keep trading sideways until the end of the yr.
Meanwhile, Hov famous that the Dogecoin price motion had performed out as anticipated, with DOGE correcting off the low and crashing by over 50%. He added that the transfer didn’t fairly make it into the decrease assist stage, but that so far, the transfer off the low seems fairly corrective. The meme coin had crashed from a high of around $0.30 last month, not too long ago touching $0.11 amid the crash that adopted Trump’s announcement of 100% tariffs on China.
Hov also acknowledged that the main focus will likely be on how the Dogecoin price motion develops over the next week to see whether or not the C-wave corrective transfer is in. DOGE is presently wanting to rebound and reclaim the psychological $0.2 stage. This has been sparked by optimism relating to a potential commerce deal between the U.S. and China.
The White House has confirmed that U.S. President Donald Trump will meet China’s President Xi Jinping on October 30 at the APEC Summit. Meanwhile, the September CPI, which dropped yesterday, got here in decrease than expectations, which also contributed to a bounce in the Dogecoin price.
DOGE’s third Bull Wave On The Horizon
Crypto analyst Ether revealed in an X post that the third bull wave is on the horizon for the Dogecoin price. He famous that DOGE skilled two major bull waves in 2017 and 2021 and that another bull wave is now loading. The analyst broke down the current price motion, which factors to another bull wave.
Ether revealed that the long downtrend has been damaged, with the retest now full. He additional remarked that the 25MA on the upper time body is back at assist. Meanwhile, the Dogecoin price is said to be gathering strength in the decrease band of a years-long ascending channel. The analyst added that all technical indicators are “whispering” the start of a new cycle. As such, he believes the third bull wave is a matter of when, not if.
At the time of writing, the Dogecoin price is trading at around $0.19, up in the last 24 hours, according to data from CoinMarketCap.
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