Cryptocurrencies even could soon warm up as a leader, Dogecoin
trained a golden cross, referring to a major price increase.
A golden cross occurs when the 50 -day simple mobile average (SMA) The price of an asset exceeds the 200 -day SMA. The crossing indicates that short -term momentum now surpasses the longer trajectory, with the potential to evolve in a major bull race.
The medium of Dogecoin crossed the increases early today. Although the Golden Cross is considered a positive indicator, it has a mixed recording of prediction of trends on most markets, including actions, bitcoin and Doge. This makes him unreliable as an autonomous indicator.
That said, most of the great previous movements of DOGE took place with the appearance of the golden cross. For example, prices jumped from 130% to 46 cents in four weeks after the occurrence of the Golden Cross on November 6, 2024. Prices jumped 25% in four weeks after the averages crossed on November 22, 2023.
Likewise, a golden cross occurred in early November 2020, marking the start of a large four -month bull race which saw the prices more than 1,000% in four months.
Let’s see if history is repeated.
Read more: a net drop of 7% sends Doge to the support of 22 cents on high volume sales
