“While Historically Linked to Significant Price Increases, The Golden Cross Is Not a Reliable Standalone Indicator.”, – WRITE: www.coindesk.com
HAS FORMED A GOLDEN CROSS, HINTING AT AAGOR PRICE SURGE AHEAD.
A Golden Cross Occursy WHEN The 50-Day Simple Moving AVERAGE (SMA) OF AN asset’s Price Moves Above the 200-Day SMA. The Crossover Indicates that the Short-Term Momentum is now outperforming the Longer Tradery, with the potential to evolve into a Major Bull Run.
Dogecoin’s Average Crossed Bullish Early Today. While the Golden Cross Is Seen As A Positive Indicator, It Has A Mixed Record of Predicting Trends in Most Markets, Including Equities, Bitcoin and Doge. That makes it unrelial as a standalone indicator.
Doge’s Daily Chart. (TradingView)
That said, most of doge’s previous Big Moves unfolded with the appearance of the Golden Cross. For Instance, Prices Surged Over 130% to 46 Cents in Four Weeks Following The Occurrence of the Golden Cross On Nov. 6, 2024. Prices Surged 25% in Four Weeks After the averages Crossed Bullish on Nov. 22, 2023.
Similarly, A Golden Cross Happened in Early November 2020, Marking The Onset of A Major Fur-Month Bull Run that Saw Prices Rally Over 1.000% in Four MONHS.
Let’s See If History Repeats Itself.
Read More: Sharp 7% Drop Sends Doge Toward 22-Cents Support On High-Volume Selloff
Omkar Holds A Master’s Degree in Finance and A Charterred Market Technician (CMT) Designation.
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Eth is nearing it all-time High, with Analysts Predicting Further Upside Potential.
- ETH HAS SURGED, PROMPTING Traders to Make Bullish Bets in the Options Market.
- Over $ 5 Million Was Spen on Call Options for Eth To Exceed $ 5,000 by the End of September.
- Eth is nearing it all-time High, with Analysts Predicting Further Upside Potential.
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