Crypto Analyst Highlights Ideal Accumulation Window for Dogecoin
Crypto analyst Kevin (@Kev_Capital_TA) identifies a potential accumulation window for Dogecoin (https://holder.io/coins/doge/) based on several technical and macroeconomic indicators.
Key Highlights
- The weekly Relative Strength Index (RSI) for Dogecoin is at a level last seen in October 2022 when the price was around $0.10.
- A critical trend line held since early 2023 suggests an oversold state for DOGE.
- The 3-day Moving Average Convergence Divergence (MACD) indicator indicates a possible bullish reversal.
- There is a 63% probability of a spot DOGE ETF being approved in the U.S. by year-end.
- Expected launch of X Payments could further support Dogecoin's price.
- Macroeconomic factors, including potential weakening of the U.S. dollar due to tariffs, may lead to lower interest rates and increased liquidity in risk markets.
- Kevin emphasizes a favorable regulatory environment for crypto and growing mass adoption as positive indicators for the market.
- Current Dogecoin trading price is $0.20.
