Bitcoin price is preparing for a strong November close and bulls are struggling to maintain the $37,700 level. The motivation of the monthly close is very important for the cryptocurrency market to experience an uptrend in December. Moreover, the excitement about the halving is growing as 2024 is approaching. Experts have long pointed out that ETFs will also be available in January.

Dogecoin ( DOGE )

In October, the price broke free from the downtrend line after three rejections in the 900-day period. A breakout on the weekly chart is promising as it could spark a parabolic rally in an environment primed for such an exciting uptick.

Dogecoin delighted investors with green candles for 5 consecutive weeks, climbing to a peak of $0.087. Following last week’s sell-off candle, this week saw a return signal. We also witnessed the weekly RSI breakout from the neutral zone.

All of this suggests that optimism about DOGE may not be overblown. And the aforementioned rapidly growing network activity and accumulation trends support this.

An analyst with the username MCP drew attention to the fractal of the previous year to make a prediction for the DOGE price. According to the analyst, if last year's trend repeats, we could see a 50% to 70% increase. Another analyst, HOPER, predicts that by March 2024, the price will reach $0.18.

John Morgan writes that DOGE is currently busy breaking out of a double bottom pattern and climbing to $0.11. This target could be reasonable by the end of December. Meanwhile, the DOGE community is trying to send physical Dogecoin to the moon.

The space mission will be carried out via ULA's Vulcan Centaur rocket on December 12. Musk has already received approval for the space mission, and all of this is likely to further increase his popularity on social media (and indirectly, his price).

On the technical front, if the $0.082 resistance area is not reclaimed and turned into a solid support, it is difficult to talk about further gains. Failing this, the price could drop to $0.067 in December.

  • As DOGE grows, Bitcoin struggles.

  • Analysts predict that DOGE could surge.

  • The level of technology is crucial to the direction of DOGE.