Yet again Dogecoin price is on the verge to make a huge move shortly as the accumulation is about to end very soon. A significant bullish divergence is seen in the higher time frame which points out towards a massive upward wave impulse. The DOGE price with the next leg up is expected to gain yet another 20% immediately with the next leg up. Unlike each spike which fades quickly, the current uptrend may prevail for long.
The DOGE price in the short term is extremely bullish as it is reaching the apex of a huge descending triangle. Almost all the indicators in the short term point out towards a buy signal while the volatility rate is pretty less. And hence even if the asset breaks through the consolidation and ranges high, it may sustain without drastic change. While RSI is ranging high, MACD manifests the end of the selling, and shortly a huge buy signal may be let out.
However, in the higher time frame, the asset showcases a contrast rally by pointing out a huge bearish trend. Despite the volatility, the rate is extremely less, yet the indicators showcase a notable downtrend waiting ahead. RSI amid the ongoing downtrend is dipping and may plunge below 40 soon. MACD showcases mounting selling pressure but it may flip very soon. And hence the asset in the long term also flip into notably bullish.
Currently, the DOGE price is trending along with the support levels very close to the apex of the triangle. The recent flip from the support levels is an indication of the asset refusing to plunge down. And hence following a consolidation for another couple of days, the dogecoin price may eventually undergo a notable uptrend very soon.
Source: https://coinpedia.org/price-analysis/dogecoin-to-make-a-crucial-decision-now/
