Is The Dogecoin Low In? Analyst Charts Path To $0.60 🐶
Dogecoin’s market structure is showing signs of improvement, according to analyst More Crypto Online. The potential path to $0.60 is contingent on maintaining support and breakout thresholds. The analyst observes higher highs and lows but emphasizes the movement is “slow” and “fragile,” indicating a cautious optimism.
A key focus is holding above the wave 2 low from August at $0.189. Breaking below this could require reevaluating the current structure. Yet, should September’s swing high be surpassed, it may validate a transition to an impulsive character, where Dogecoin could move toward $0.49+.
The one-hour chart shows a “five-wave move up” from late September, suggesting a possible B-wave bottom. Holding above micro support levels around $0.23-$0.245 will be crucial to maintain the bullish potential.
For Dogecoin to reach $0.60, a third-wave rally is necessary once key resistance levels are conquered. The analyst advises patience and caution, noting the advancement remains gradual.
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