The price of the Dogecoin could prepare for a major escape, because the technical and macroeconomic indicators align for a potential optimistic rally. Despite the recording of major decreases in recent months, a cryptographic analyst has planned that Dogecoin could be targeting a new all the time high $ 3.6.
Dogecoin price headed for a break of $ 3.6
A new analysis of macro graphics highlighting a strong configuration for a Dogecoin Prix Surge at $ 3.6. Historically, the action of DOGE prices has followed a model of known long periods of consolidation within Descendant corner models And the fall of the canals before bursting into explosive price movements.
This model took place spectacular during the Bull Run 2021-2022 and Doge seems to be repeated in the current market cycle. According to a graphDogecoin long from here? The possible extension of 300% could be for profit opportunities By Kevin, cryptographic analyst on X (formerly Twitter), Dogecoin has again emerged from a multi -year drop trend. The meme piece also successfully retains key technical channels and is positioned for a Renewed upward movement.
Technical analysis points to retrace and extension areas of key fibonacci, the extension target of 1.618 projecting a price rally at $ 3.6. Given the historic tendency of Dogecoin to surpass in favorable conditions, the graph suggests that a similar model could be repeated, especially now that market dynamics seem to move.
Previously, the Dogecoin price had rallied massively, outdoor the bitcoin And most altcoins on the market. In particular, Kevin revealed that macroeconomic conditions Also seem to move strongly in favor of Dogecoin, signaling a potential continuation of its upward trend.
The analyst noted that the Federal reserve (Fed) should largely start to reduce interest rates in June or July, depending on the Chicago Mercantile Exchange (CME) Fedwatch tool. If this is maintained, this decision should inject essential liquidity on the financial markets.
Simultaneously, the The money supply begins to increase Once again, reversing the effects of efficiency Quantitative tightening (QT). In addition, alternative inflation metrics such as ruginity indicate that inflationary pressures decrease.
It is understood that a potential end of the QT program of the federal reserve could create a window for an even greater flow of risk asset capital such as cryptocurrencies. By relying on this, the combination of strong technical models and improving macroeconomic conditions could open the way to Dogecoin to record unprecedented price gains.
The analyst defines the short -term DOGE price objective
Sharing a bullish feeling similar for the future perspectives of Doge, Emma, cryptographic analyst on X, A foreseen Two main short -term price objectives for the memes piece. The analyst shared a predicting graphic that Dogecoin would reach an initial objective of $ 0.19 before soaring at a higher level of $ 0.20.
Currently, the The price of the Dogecoin is the strengthening pressure After having fallen from the level of $ 0.24 and reached a low at $ 0.17. The same part is now consolidated around the $ 0.18 threshold and quickly approaches a Key resistance area About $ 0.19. If Doge can break and hold over this resistance with a substantial volume, Emma believes that her rally could accelerate considerably.
Getty Images star image, tradingView.com graphic
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