Notable Dogecoin Breakout on its Way, Scott Melker Shares his Prediction

Coinfomania 10 months ago Report
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Notable Dogecoin Breakout on its Way, Scott Melker Shares his Prediction

Crypto trader and a leading market analyst Scott Melker shares his Dogecoin prediction and teases the chances of a notable DOGE breakout. Telling his over 500k followers on Twitter, Melker mentions that if DOGE manages to overcome the resistance at $0.26, then the asset can rise up to the level of 58%.

Scott Melker Predicts Dogecoin Breakout

Though Scott Melker predicted that there are chances of Dogecoin rising significantly to certain levels, he also mentioned that the bulls are required to take action quickly so that the resistance could be surpassed. He said:

“Potential bull pennant off the lows. Target ~0.38 if it breaks descending blue resistance. Big if. Pennants often break support and form flags. Also, needs to make a move soon or the flag becomes a bit too long.”

Apart from keeping an eye on the price of Dogecoin, which is being traded at the level of $0.24 in accordance with the leading market data analysts, Melker is also observing the chart pattern of Cardano. 

Talking further about Cardano, Scott says that ADA can show an upside movement and possess the potential to climb toward key areas of resistance at $1.60 and $1.85 and said:

“Took a little while to start showing strength after the breakout, but looks likely to keep pushing. Key levels marked.”

What Future Has in Store For Ethereum

Melker believes that if the leading smart contract platform Ethereum can transform the level of $2,290 from resistance into support, there are chances that Ethereum might rise back to the level of $3K.

Detailing further about his belief for Ethereum, he said:

“ETH/USD. A retest of $2,042 that I discussed a few days ago was successful. Clean break and retest of descending blue resistance in the same spot. Flip the EQ (middle point) of the range and $3,000 back in play. The dashed line is the whole ball game for now.”

Sahaj Sharma

Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

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