Dogecoin Risk Levels Indicate Potential for Further Price Increase
Recent analysis suggests that Dogecoin's rally may continue. Crypto analyst Kevin observes that the historical risk levels, which indicate cycle tops, are not yet at critical highs.
- Dogecoin's current risk level is 0.52, indicating a mid-cycle phase, not near exhaustion.
- The price holds above $0.25, up from last week's $0.22-$0.23 range.
- Current conditions suggest potential for Dogecoin to reach new highs if market conditions align.
- Kevin highlights the significance of monthly Stoch RSI crosses during bull markets, indicating possible strong upward momentum.
Currently trading at $0.2554, Dogecoin has increased by approximately 12.5% in the last 24 hours. The prospect of a Spot Dogecoin ETF in the US could further boost its price, with the $1 mark being within reach.
