The meme-inspired crypto-asset Dogecoin exploded in price in October. Dogecoin surged in October mainly on its own as Elon Musk, the CEO of Tesla, hasn’t had much to say on the coin in months.
In light of the price surge in October, a recent report shows the price prediction of Dogecoin for the following months in 2021. Statically, Dogecoin appears to be ready for another 1,000% rallies for the rest of the year.
Around January, February, and March, Dogecoin has been leading price rallies over 1,000%. The current pattern of Dogecoin prices appears to be three times larger than its price rallies in February and March. If this trend breaks any higher, the price of Dogecoin will reach up to $0.42 and higher. Though for a breakout to occur, the daily close trend line is required to reach $0.245. If Dogecoin can get above $0.23 now, the upper trend line will flip to support the price and make way for $0.245.
Though Dogecoin is not the only cryptocurrency that seeing potential surges. Other major cryptocurrencies Vechain, Polkadot, Ethereum, and Bitcoin will be seeing changes.
VeChain announced its partnership with one of the biggest logistic companies in the world recently. According to the asset’s data chart, Vehchain is testing $0.123 and needs a daily close to open $0.155. Support for Vecain is around $0.1090.
Moreover, Polkadot reached $43 today, which ended up being quite profitable. A rotation lower between $37 and $39 should prompt buying pressure.
As for Ethereum, it is currently testing resistance near $3k. A daily close above that level should flip it to support, and expose the $4k region.
Meanwhile, Bitcoin recently dropped under $55k, but made a quick recovery and is now on its way to reach all new highs in the following months. The current trend of Bitcoin remains the same as it needs a daily close above $60k or $65k to confirm the continuation of the bull market.
On the other hand, the total market cap continues to languish under $2.4 trillion resistance. The market needs to close a day above this level to confirm a breakout otherwise it will continue to serve as resistance.
Usually, consolidation under such resistance breaks up, if it breaks down there will be an all-time high at $2.5 trillion in few days. Should the ascending channel continue to grow, the market cap could reach $10 trillion in the next 6 months.