Dotecoin is quiet To withdraw The drop in price compared to the last week, which broke below 0.3 US dollars. Nevertheless, an important technical signal has occurred in Doges Price diagram that could send the Meme coin In an optimistic way For the rest of the year.
According to Kreispax, analysts from Crypto, which has highlighted this important technical signal on the social media platform X, the Dotecoin Price Impuls Oscillator (PMO) suggests that the Meme coin could be on the brink of another main prize.
Dogecoin price impulse crossover
Technical analysis of The Dotecoin Prize shows that the price-impulse oscillator (PMO), a tool for measuring trend shifts and swinging strength, has just recorded a crossover on the 2-week candle tension period. A PMO crossover occurs when the PMO line exceeds or below the signal line, which is typically a sliding average of the PMO.
When the PMO line exceeds the signal line, it indicates that the dynamics are shifting in favor of buyers. This phenomenon is particularly important because in 2017 and 2021 it only took place twice in the history of Dogecoin. Interestingly, every crossover has led to an interesting price campaign.
In the past cases, the PMO crossovers of Dogecoin have preceded some of its most explosive rallies. The first of these PMO crossovers was in 2017 when the market wanted to enter its first important bull market. After the crossover 2017, the price of DOGES rose by over 6,000%until it reached a highlight of $ 0.0175. Similarly, the second crossover occurred shortly before Dogecoin’s historical rally on the Bullenmarkt 2021. At that time, the meme coin ran with a run of 36,400%to achieve its current all-time high of $ 0.73 after the bullish crossover .
The next step by Doge: Analyst aims at 4 price level $.
With History as a reference, Kreispax predicted that Dogecoins could lead to another significant outbreak. Interestingly, the recent PMO crossover Dotecoin had already pushed to several years, but the latest corrections have it Still the bullish swing.
However, many Cryptoanalysts agree that Dogecoin’s rally should resume again at any time. Therefore, Krissspax predicted that the four-year cycle of bullish pmo-crossovers is still involved and that we could take a big step after Doke. With regard to a price target, the analyst has set a price target of 4 US dollars.
The reaching of the price target of $ 4 would be low in an increase of around 4,110% compared to its 2024, which was recorded immediately before the start of the current market cycle.
At the time of the letter, Dogecoin will act at $ 0.2619 and an increase of 0.18%in the last 24 hours. Reaching the price target of $ 4 would also be an increase in the current price by 1,427%. However, the first step to achieve this price target of $ 4 would have to break and Hold above the price level of $ 0.3 again. The successive short -term price resistance is 0.4 USD and finally $ 0.5.
Selected picture of Pexels, diagram of tradingview.com