is again in the spotlight as the foremost meme coin could be ready for takeoff. This follows (formerly Yomi OG) analysis of Dogecoin, in which he highlighted an important indicator that has turned bullish for the crypto token.
Dogecoin Indicator Turns Green For The First Since 2020
Kevin mentioned in an X (formerly Twitter) that the 12-day time frame on the Gaussian channel just recently flipped green on for the first time since December 2020. He claimed that this indicates a “potential strong bullish trend” is on the cards for the meme coin in the coming months.
Kevin added that this indicator has never failed in indicating these trend changes, suggesting that Dogecoin has indeed undergone a .
In another , Kevin claimed that Dogecoin has looked much stronger than most altcoins throughout this period, during which the crypto market has continued to bleed and trade sideways. He added that Dogecoin will likely move into the golden pocket at the if it can stay above the Macro 0.382 FIB and the blue support zone on the weekly time frame.
Kevin also provided another bullish narrative for Dogecoin in another . Looking at the four-hour time frame chart, he highlighted a deviation back into the larger , which he claimed is a “bullish sign.” He stated that Dogecoin getting back above key moving averages will be important. He also added that he expects the foremost meme coin to test the at some point, as there is a lot of liquidity in that price range.
The crypto analyst also on liquidity at that price area. He claimed there is a “very big block of liquidity” at the $0.175 level, looking at the 3-month time frame. Additionally, he said that most of the liquidity beyond that level is between the $0.20 to $0.23 range. This is bullish for Dogecoin, as Kevin noted that market makers like to move where the liquidity is, and it is definitely higher for Dogecoin at the moment.
DOGE’s Next Move
recently that Dogecoin has reached a ‘make it or break it’ level. He, however, seemed confident that Dogecoin could experience an upward trend from its current price level, noting that the meme coin had reached this ‘make it or break it’ level when Bitcoin hit its range lows. As such, he expects Dogecoin to enjoy a price rebound if the flagship crypto experiences a bullish reversal.
Meanwhile, crypto analyst Crypto Daily has made a short-term bullish forecast for DOGE. He that Dogecoin would rise to between $0.33 and $0.35 soon. The analyst added that a daily close above $0.18308 could lead to further gains up to $0.57 for Dogecoin.