23 hours ago
0 0
Dogecoin Momentum Revives Potential Pathway to $1, Analyst Reports
Crypto analyst VisionPulsed suggests Dogecoin's technical momentum is regaining interest, creating a potential path to $1. The analysis focuses on DOGE's structure and momentum profile, highlighting:
- The current macro uptrend appears broken, but the summer uptrend remains technically valid on the weekly chart.
- A binary risk setup: continuation of the bullish trend if momentum holds, or a move towards $0.06 if support fails.
- Momentum, described as "firepower," is present across multiple timeframes, supporting potential upward movement.
- Larger timeframe risks exist, with uncertainty about cycle tops and timing.
VisionPulsed emphasizes monitoring momentum follow-through from oversold RSI conditions, while cautioning that failure to confirm momentum could indicate a bearish scenario. At present, DOGE trades at $0.1815.
Key takeaways include the need to watch for momentum confirmation and respect the risk of failed support, which would alter the market outlook.