These monthly candles reflect a cryptocurrency’s price performance over an extended period and are often used to gauge larger market trends. Related Reading: This Crypto Analyst Correctly Predicted The Bitcoin Price Rise To $75,000, Here’s The Full Prediction In the case of Dogecoin, these long-term candles highlight that the meme coin has recorded consistent price increases, experiencing strong monthly, quarterly, and biannual market performance.
This positive shift is attributed to the recent bullish trend across the 1-month, 2-month, 3-month, and 6-month candles, which are now turning bullish. Dogecoin Price Outlook Brightens With Long-Term Candles In a recent technical analysis, a crypto analyst on X (formerly Twitter) identified as The Coach’ declared that the Dogecoin long-term candles, specifically the 1M, 2M, 3M, and 6M indicators, are all turning bullish.
However, he disclosed that it was uncertain if the meme coin could reach $1 this month. Related Reading: Analyst Predicts The Final Ascent’ For Bitcoin Price, Why A Rise To $300,000 Is Possible From Here While a $1 price target may seem overly ambitious, The Coach has emphasized that Dogecoin will inevitably reach higher highs.
The story "Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish" has 453 words across 60 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish" was covered 1 weeks ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 8 news stories per day.
It's most recent story was published 12 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.