The first level that the Dogecoin price had crossed earlier in the week was the 200-day moving average (MA). This 200-day moving average was the dynamic support for the altcoin, and moving above it was part of the reason that the meme coin’s price had seen a small recovery at the start of the week.
“This breakout, coupled with sustained strength above the 200-week MA, may set the stage for a significant move to the upside,” the crypto analyst wrote. He further added that: “The ultimate technical target remains the all-time high zone near $0.48, which represents a potential 194% gain from current levels.”
