Analyst Highlights Dogecoin as Leading Altcoin Amid Bullish Trends
Crypto analyst CryptoInsightUK identifies Dogecoin as a top altcoin, citing its bullish weekly structure and an ascending wedge pattern. Key points include:
- Dogecoin has been actively traded for over a week, with potential for a bullish engulfing candle if it closes above $0.241.
- The DOGE/USDT chart shows resistance between $0.27–$0.30 and support around $0.13.
- A broadening ascending wedge may target all-time highs at $0.75, with further potential to reach the 1.618 Fibonacci extension near $1.17.
- Weekly RSI indicates room for growth, currently sitting in the mid-50s to low-60s.
- Technically, Dogecoin has experienced two significant impulses, suggesting a third is forthcoming.
- Compared to other top 10 cryptocurrencies, Dogecoin remains behind in price performance, indicating potential for major upside.
- Immediate trigger for bullish momentum is a weekly close above $0.241; failure to hold the trendline could lead to support levels at $0.17 or $0.13.
As of press time, Dogecoin is trading at $0.242.
