Is Dogecoin going to hit $0.5, or is it on the eve of a pullback?
Dogecoin has been very popular recently. With the overall market recovery, the price has been rising rapidly, which makes people excited. But then again, we have to calm down and think about whether Dogecoin can really hit $0.5 in one go, or has it risen enough and it is time for a pullback? From the technical chart, Dogecoin is now rushing to the $0.41 barrier. If it really passes this barrier, it may be able to fly for a while later.
Look at the relative strength index, it is also approaching the overbought level, which means that Dogecoin may have risen a bit too much, and the risk of a pullback is quietly approaching. But then again, the market sentiment is still quite optimistic. After all, Bitcoin has risen to more than $100,000, and the entire cryptocurrency circle has been excited.
But we have to know that the market can change at any time. It is not so easy for Dogecoin to hit $0.5. It has to break through many obstacles, and it depends on whether the market is strong enough. Moreover, we must always be prepared for a callback. If the market sentiment is not right one day, the price may fall.
