The recent FOMC meeting appears to have induced significant bullish momentum within the crypto space as the asset has been fairly maintaining a notable uptrend. While the bears attempted to drag the price below $0.1, the bulls appeared to be poised to keep up the bullish momentum. Therefore, held the DOGE price firmly above the levels and propel it back above $0.13 after undergoing a brief consolidation. Meanwhile, the popular memecoin, DOGE, has been heavily impacted by Elon Musk’s acquisition of Twitter and, in particular, his hinting at the acceptance of Dogecoin payment. While many expected the Elon effect on the DOGE price to fade and the bears to retake control of the rally, the future prospects indicate a remarkable upswing is in place. Therefore, while the price has now reclaimed the required positions, the upper targets appear to be within reach. After trading along the lower support for more than 4 months, the DOGE price made a huge move and sliced through a couple of crucial resistance levels. The asset has now reclaimed the levels it traded before the unfamous May 2022 crash which was ignited by the Terra crisis. Presently, the price has surged above the 2nd target and heading towards the next target at $0.148.The trade setup appears to be extremely bullish as a huge spike in the trading volume has been recorded. Hence, after a 150% jump, the Dogecoin (DOGE) price is expected to undergo a similar upswing to reach the main target of around $0.2 before the end of 2022.Was this writing helpful?
