Crypto Analyst Predicts DOGE Price Surge Using LTF Indicator
- DOGE price aligns with CryptoKaleo’s prediction 5 hours after initial plotting.
- The leading meme coin flipped bullish after rallying 33.02% in one day.
The crypto analyst going by the handle CryptoKaleo (KALEO) on Twitter has provided a graphical analysis of his projection for future DOGE price development. Using the LTF (Lower Time Frame) indicator, Kaleo presented a chronological price development over 5 hours, and the DOGE price appears to respect the pattern projected.
Traders commonly use the LTF indicator to predict price behavior during volatility. It is popular during short-term trading or scalping of cryptocurrencies and other assets. The LTF indicator mimics the chart behavior into the immediate future, providing a guide for traders seeking to make quick gains from the market.
Within Kaleo’s 5-hour monitoring period, the DOGE price moved between $0.09631 to $0.09707. However, more importantly, the volatility displayed during this period coincided with the pattern projected by the LTF indicator. Beyond that, the indicator also projects an overall price movement that expects DOGE to climb higher, even above $0.1.
One of the unique features of the LTF indicator, as shown in Kaleo’s analysis, is that it does not only reveal the price target. Instead, it displays a trajectory that provides the path to the target, and that feature seems to impress Kaleo’s respondents, most of which find it accurate.
DOGE began the new week with an impressive bullish candle that moved the token’s price from $0.787 to $0.1048, reflecting a 33.02% price surge in one day. That price rally also saw DOGE overcome a previously established resistance on the local high at $0.1, swinging the leading meme coin into a bullish condition.
As of the time of writing, DOGE traded at $0.0970 on trading view while ranking as the 8th largest cryptocurrency on CoinMarketCap with a market capitalization of $13.5 billion.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.