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🔥💥Will Dogecoin Price Recovery Exceed $0.3 in April?
#Dogecoin Price Forecast: The cryptocurrency market is witnessing a consolidation that has probably halved, as evidenced by the formation of a narrow December in Bitcoin. While the majority of major altcoins are following the same trend, the leading meme cryptocurrency Dogecoin has had a notable rise, reaching a 27-month high of $0.228.
However, the market is preparing for a potential uptrend in the coming weeks as we approach April, the scheduled month for Bitcoin to halve. Will this renewed market recovery move the #DOGE price to the $0.3 milestone?
The Dogecoin price has recovered from its last correction in the fourth week of March as the appropriate support of buyers in the 50-day ema. The positive return increased the asset from $ 0.122 to $ 0.21, registering an 86% growth.
The rising price also surpassed the recent high of $0.192, providing buyers with the next stepping stone to extend the recovery. Amid the current consolidation trend in the market, the DOGE price is seeing a small retreat of 8% in 72 hours, currently trading at $ 0.21.
With a market capitalization of $30.2 Billion, Dogecoin is the 8th largest according to Coinmarketcap. the cryptocurrency is maintaining its position.
However, an analysis of the higher time zone graph shows parabolic growth resembling the formation of a rounded bottom pattern. The chart pattern is usually considered a sign that the downtrend has hit bottom and an opportunity for a new bull run to emerge.
If the crypto market shows a bullish reaction to the expected half in line with historical trends and investor expectations, it is likely that Dogecoin's price will align with the formation of a bullish pattern.
With continuous buying, the current rally could follow a potential target of $0.3, followed by $0.35 and $0.448.
Technical Indicator
Exponential Moving Average: A sharp rise from the fast-moving 20-day EMA indicates a high-momentum rally that usually supports breakout traders.
