- Dogecoin’s RSI at 62.09 suggests moderate bullish momentum, with $0.85 within reach if it maintains upward momentum.
- Despite temporary price fluctuations, Master Kenobi counsels DOGE holders to maintain flexibility and keep an eye on the wider picture.
- With an RSI of 62.09, Dogecoin still has room to grow before hitting overbought levels, suggesting continued momentum.
Popular analyst Master Kenobi recently offered his thoughts on DOGE’s possible upward trajectory. The Relative Strength Index shows momentum at 62.09. The analyst believes the cryptocurrency could reach $ 85 by November 25 indicating a likelihood, of price increases.
DOGE’s Recent Price Movements and Key Levels
Dogecoin’s recent rally started near the $0.20 support level, leading to significant gains over two consecutive six-day periods. Breaking resistance levels at $0.23, $0.34, and $0.44, the cryptocurrency reached approximately $0.74, approaching its all-time high. Following this surge, DOGE consolidated near $0.44, establishing a robust support zone before resuming its upward trend.
Source: Master Kenobi
Key resistance levels now stand at $0.44, $0.74, and $0.85. Besides, potential fallback zones include $0.20.5, $0.17.5, $0.14.2, and $0.11.5. These areas could play a vital role during any downward corrections.
Technical Indicators Suggest Strong Momentum
The RSI reading indicates moderate bullish strength, implying room for growth before entering overbought conditions. Additionally, yellow arrows on the 4-hour chart highlight breakout points during consolidation phases. These mark transitions from sideways movement to sharp upward trends fueled by buyer enthusiasm.
Master Kenobi emphasized the importance of adapting to market dynamics. He noted that maintaining flexibility and revising strategies based on evolving trends is crucial. This perspective aligns with DOGE’s dynamic market behavior, which features peaks, dips, and consolidation phases.
Projected Path and Community Sentiment
The chart projects a bullish trajectory toward $0.85 if DOGE sustains momentum and breaks key resistance levels. Conversely, failure to maintain support levels could trigger pullbacks to lower zones. Despite short-term volatility, the overall sentiment remains optimistic.
Significantly, Master Kenobi urged the community to focus on the broader trend, highlighting patience and conviction. He reminded DOGE holders that markets evolve, requiring continuous assessment and flexible strategies.
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