Traders and analysts watching out for potentially major technical formation for Dogecoin price
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While golden crosses can occur on various time frames, a weekly golden cross holds particular significance as it reflects longer-term trends and investor sentiment., the 50-week SMA is rising north and appears likely to move above the 200-week SMA, which may result in a golden cross formation in the coming weeks. While expectations are in place for a golden cross, traders might need to watch for the nature of the crossing to affirm this.
While past success is no guarantee of future results, the prospect of another golden cross has certainly captured the imagination of theFor traders, the golden cross is a signal to watch closely, as it could indicate the beginning of a new uptrend. However, it's important to approach such indicators with caution, as they can sometimes lead to false signals, trapping traders on the wrong side of the market.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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