Dogecoin rally to US$ 0.50 is imminent after DOGE 'overbought' conditions cool

Dogecoin's next possible stop is $0.50 and above. Especially if a historical price fractal fails to materialize.

After a 208% rally in early November, Dogecoin consolidated within a tight range between US$ 0.35 and US$ 0.48 for four weeks. DOGE's recent price correction led to a break below an uptrend line, indicating a possible shift into a downtrend.

However, one analyst pointed out that Dogecoin could be on the verge of a new uptrend based on a key technical indicator and a repeating pattern observed in March 2024.

Source:COINTELEGRAPH