{"id":654357,"date":"2024-11-22T18:30:45","date_gmt":"2024-11-22T18:30:45","guid":{"rendered":"https:\/\/wncen.com\/?p=654357"},"modified":"2024-11-22T09:03:25","modified_gmt":"2024-11-22T09:03:25","slug":"dogecoin-price-skyrocket-by-saturday","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-price-skyrocket-by-saturday\/","title":{"rendered":"Dogecoin Price Set To Skyrocket By Saturday, Warns Crypto Analyst"},"content":{"rendered":"

Crypto analyst Kevin (@Kev_Capital_TA) has identified a bullish pennant formation in the 4-hour Dogecoin \/ USD price chart, indicating that a significant price movement could occur by this coming Saturday. In a post<\/a> on X, Kevin remarks: \u201cDogecoin is now forming a more defined potential bullish pennant that has multiple touch points on each side with plenty of consolidation time. Something to keep an eye on folks.\u201d<\/p>\n

Dogecoin Price Breakout By Saturday?<\/h2>\n

The chart shared by Kevin illustrates a bull pennant pattern. A bull pennant typically signifies a pause in a prevailing uptrend, followed by a potential continuation of that trend. This pattern is characterized by converging trend lines that encapsulate a period of price consolidation after a strong upward movement.<\/p>\n

\"Dogecoin
Dogecoin bull pennant, 4-hour chart | Source: X @Kev_Capital_TA<\/a><\/figcaption><\/figure>\n

In Dogecoin’s case, the pennant is delineated by converging yellow trend lines, indicating decreasing volatility and a consolidation phase. The memecoin is trading around $0.38 within this pennant structure<\/a>. Kevin’s analysis suggests that this critical breakout could happen “by Saturday at the latest.\u201d<\/p>\n

Related Reading: Dogecoin Forms A \u2018Nasty Triple Top\u2019: Analyst Reveals What\u2019s Next<\/a><\/div>\n

In technical analysis terms, a breakout occurs when the price moves beyond the defined trend lines of a formation, signaling a potential continuation or reversal of the trend. Given the bullish momentum<\/a> preceding the pennant formation, an upward breakout is often anticipated. However, Kevin maintains a cautious stance by acknowledging market unpredictability: “Up or down,” he notes.<\/p>\n

The chart also highlights several horizontal lines representing key support and resistance levels. The upper resistance is identified around $0.54, which could be tested if an upward breakout occurs. Conversely, immediate support levels are situated around $0.33 and $0.2950, which would be critical if the price breaks downward.<\/p>\n

Related Reading: Analyst Confirms Dogecoin Price Test Of 0.786 Fibonacci Level, What Happens Next?<\/a><\/div>\n

Kevin also emphasizes the role of the stochastic Relative Strength Index (RSI) in the daily chart. He states: \u201cThe stochastic RSI is a phenomenal momentum indicator in strong trends in either direction. The daily RSI is almost reset for Dogecoin and probably needs another week give or take a few days to fully reset. Once it does, I expect the next leg to begin.\u201d<\/p>\n

The stochastic RSI is a technical momentum indicator that compares the level of the RSI to its high-low range over a set period, providing insights into potential overbought or oversold conditions. A reset in the daily RSI suggests that previous overbought conditions have eased, potentially paving the way for the next significant price movement.<\/p>\n

Further emphasizing the potential impact of the current consolidation phase, Kevin adds: \u201cThe longer Dogecoin consolidates, the bigger the next leg will be. In my opinion, the next leg will be the biggest leg of the DOGE bull run<\/a> and will give us a good idea where it\u2019s going to top out at for the cycle.\u201d<\/p>\n

At press time, DOGE traded at $0.39.<\/p>\n

\"Dogecoin
Dogecoin price hovers below the 0.5 Fib, 1-week chart | Source: DOGEUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL.E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Kevin (@Kev_Capital_TA) has identified a bullish pennant formation in the 4-hour Dogecoin \/ USD price chart, indicating that a significant price movement could occur by this coming Saturday. In a post on X, Kevin remarks: \u201cDogecoin is now forming a more defined potential bullish pennant that has multiple touch points on each side with plenty of consolidation time. Something to keep an eye on folks.\u201d Dogecoin Price Breakout By Saturday? The chart shared by Kevin illustrates a bull pennant pattern. A bull pennant typically signifies a pause in a prevailing uptrend, followed by a potential continuation of that trend. This pattern is characterized by converging trend lines that encapsulate a period of price consolidation after a strong upward movement. In Dogecoin’s case, the pennant is delineated by converging yellow trend lines, indicating decreasing volatility and a consolidation phase. The memecoin is trading around $0.38 within this pennant structure. Kevin’s analysis suggests that this critical breakout could happen “by Saturday at the latest.\u201d Related Reading: Dogecoin Forms A \u2018Nasty Triple Top\u2019: Analyst Reveals What\u2019s Next In technical analysis terms, a breakout occurs when the price moves beyond the defined trend lines of a formation, signaling a potential continuation or reversal of the trend. Given the bullish momentum preceding the pennant formation, an upward breakout is often anticipated. However, Kevin maintains a cautious stance by acknowledging market unpredictability: “Up or down,” he notes. The chart also highlights several horizontal lines representing key support and resistance levels. The upper resistance is identified around $0.54, which could be tested if an upward breakout occurs. Conversely, immediate support levels are situated around $0.33 and $0.2950, which would be critical if the price breaks downward. Related Reading: Analyst Confirms Dogecoin Price Test Of 0.786 Fibonacci Level, What Happens Next? Kevin also emphasizes the role of the stochastic Relative Strength Index (RSI) in the daily chart. He states: \u201cThe stochastic RSI is a phenomenal momentum indicator in strong trends in either direction. The daily RSI is almost reset for Dogecoin and probably needs another week give or take a few days to fully reset. Once it does, I expect the next leg to begin.\u201d The stochastic RSI is a technical momentum indicator that compares the level of the RSI to its high-low range over a set period, providing insights into potential overbought or oversold conditions. A reset in the daily RSI suggests that previous overbought conditions have eased, potentially paving the way for the next significant price movement. Further emphasizing the potential impact of the current consolidation phase, Kevin adds: \u201cThe longer Dogecoin consolidates, the bigger the next leg will be. In my opinion, the next leg will be the biggest leg of the DOGE bull run and will give us a good idea where it\u2019s going to top out at for the cycle.\u201d At press time, DOGE traded at $0.39. Featured image created with DALL.E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":654374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,1803,1804,1805,79600],"class_list":["post-654357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogecoin-price-analysis","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Set To Skyrocket By Saturday, Warns Crypto Analyst<\/title>\n<meta name=\"description\" content=\"Crypto analyst Kevin (has identified a bullish pennant formation, indicating that a major price move could occur by this coming Saturday.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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