How High Can DOGE Surge Following Elon Musk’s Latest Tweets? (Dogecoin Price Analysis)


Dogecoin’s worth exploded as soon as extra as quickly as Elon Musk tweeted about his Shib Inu canine sporting the Twitter brand in celebration of Halloween.

Dogecoin Worth Evaluation

Key Assist ranges: $0.11 

Key Resistance ranges: $0.19

Dogecoin’s rally appears to take no breaks and is about to double once more at this charge. The earlier resistance at $0.11 has became help, and the following goal is now $0.19. This parabolic ascent began when it turned clear that Musk will purchase Twitter and solely intensified as a result of hypothesis that Dogecoin may change into built-in as a fee mechanism on the social media platform.

Chart by TradingView

Technical Indicators

Buying and selling Quantity: The amount continues to stay excessive, and patrons dominate the chart.

RSI: The day by day RSI is now above 90 factors. The final time this occurred was through the 2021 rally. Dogecoin is within the overbought space, however throughout such moments the RSI is a poor indicator for a high.

MACD: The day by day MACD is bullish and continues to maneuver greater. There aren’t any indicators of weak point right now.

DOGEUSDT_2022-11-01_12-47-00
Chart by TradingView

Bias

The bias for DOGE appears to be like very bullish.

Quick-Time period Prediction for DOGE Worth

Dogecoin is the present market chief when it comes to efficiency and has managed to get again into the highest 10 cryptocurrencies by complete capitalization, beating Cardano and Solana to the eighth place. Ought to the resistance at $0.19 fall, then DOGE will purpose to achieve $0.30 subsequent. Patrons additionally must be cautious as a result of such parabolic strikes can have an equally highly effective drop as soon as sentiment shifts.

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Disclaimer: Info discovered on CryptoPotato is these of writers quoted. It doesn’t characterize the opinions of CryptoPotato on whether or not to purchase, promote, or maintain any investments. You’re suggested to conduct your personal analysis earlier than making any funding selections. Use offered info at your personal threat. See Disclaimer for extra info.

Cryptocurrency charts by TradingView.



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