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Looking into Dogecoin’s near-term trajectory, before another spike
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Dogecoin was cooling off from a two and a half month high at $0.340, following a 24% surge observed over the past week. With the RSI still trading above its bottom trendline, DOGE’s long term outlook was still favorable. However, its near-term trajectory was questionable after the price threatened to close below its 20-SMA (red).
If so, DOGE would likely visit its 200-SMA (green) before commencing on the next upcycle. At the time of writing, DOGE traded at $0.272, up by 2% over the last 24 hours.
Source: DOGE/USD, TradingView
DOGE has seen several mini rallies since late-September. During October, DOGE has registered jumps of 41%, 31% and 54% following a risk-on broader market. While these gains were quite distant from those seen during early
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