A widely followed cryptocurrency analyst has reiterated his bullish forecast for Dogecoin DOGE/USD Tuesday, calling the $1.30 to $1.50 range a “point of interest.”
What happened: Kevinknown for sharing information and predicting price movements of the world’s largest coin, has reaffirmed its predictions from September.
“That’s still my opinion. Anything between these goals is also possible,” he said.
The X post he referenced set bold price targets for Dogecoin in the current cycle.
“If we get a real bull this cycle, then my price targets are 0.93 cents (good performance) – $2.27 (huge outperformance) – $3.80 (astronomical performance),” the analyst had said .
The Relative Strength Index indicator was in the neutral zone at the time of writing, after falling below 70 earlier this week, according to TradingView data.
Moving Average Convergence Divergence, a popular momentum oscillator indicator, issued a “sell” signal with the Moving Average Convergence Divergence line moving below the signal line.
Why it’s important: Kevin’s remark coincided with volatile movements in the cryptocurrency market on Tuesday, fueled by political uncertainty in South Korea.
Dogecoin was also affected as long-term holders of the cryptocurrency liquidated their stash, as evidenced by a 0.88% drop in their balance seen by IntoTheBlock. data.
Additionally, the volume of large transactions jumped 41%, implying strong whale participation.
Price action: At the time of writing, DOGE was trading at $0.4163, down 1.07% in the last 24 hours, according to data from Benzinga Pro.
Read next:
News and market data powered by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.